To ask if you’re likely to inherit much?

[WimblesThimbles]

Anyone else not really got any generational wealth to speak of?

I have £30k in savings for a house deposit, currently rent and I’m nearly 40. Not much likelihood of a lottery win and no generational wealth to come into.

I feel like all my friends have had a financial head start through some type of either financial gift or inheritance.

Anyone else like me, and just going it alone?!

Not likely, my parents aren't wealthy and there's 5 of us to split anything between. OH also from a large family so lots of siblings to split inheritance with so he won't get a lot I'm sure.
DD inherited 50k from her paternal side which would be a lovely start in life for her if it doesn't get swallowed up when she's a student.

Ill inherit from my dad a large amount. Assuming he doesn't need care for a lot of years. There's no history of needing care in his relatives so who knows. My in-laws will likely have everything go on care fees. They're fiercely independent and dont have the best health. I'd rather have them live with us, but they'd not accept that. I want them to move near to us so I can help as they age. But any inheritance is worthless compared to my relationships with my dad and in-laws. I hope I never inherit anything and they live forever.

You have to tell us what you have planned

DH and I both in our 40's but started a family late (DD7 and currently pregnant with DC2) lucky enough to have bought our first house in our 20's when houses were still affordable and only needed a small deposit - I think we only needed 12K deposit for a 2 bed in the south east at the time.

Unlikely I'll get anything from my side, both parents have some savings but for the sake of inheriting a few £K I hope they spend and enjoy it.

DH will inherit around £60-70K when his Nan dies and I believe DD has some allocated for her too - we also have a savings account for her. I think its very likely his parents money/house will be used for care. Obviously not a small amount of money but not life changing either given the cost of houses now, will probably just pay a chunk of the mortgage if the money actually materialises.

I really feel for people especially where housing is expensive as its so difficult to get on the ladder without help, especially if you've had to rent first.

I really hope to be able to help DC with deposits, education etc when the time comes

But that's why the rich character gets bumped off in a book - so the relative gets their inheritance early/ avoids being disinherited because of their disgraceful conduct at the tennis club/ or because rich character is about to remarry someone else.

Not something I have to worry about. I always behave impeccably at the tennis club & rich Aunt Maureen told me I will inherit the manor when she passes.

There’s six of us… we will probably inherit the house of my mum which split six ways will definitely not be much. Dad is definitely going to spend it all before he dies (as he should, he’s worked bloody hard for it). My step mum will get his house and she will definitely outlive him because he smokes a pack a day and doesn’t even look at a vegetable. She will leave the house to us when she dies and we will split it, but obviously that depends on if she had to go into care. I would definitely try and sort in home care for her or my mum if that was possible though I really wouldn’t want to put any of them in a home even if it means I don’t inherit anything.

Not a penny!

0 I’m estranged so I wouldn’t get anything anyway but neither are good with their money and even if I wasn’t estranged think 0 would still be accurate

Intergenerational wealth in Ireland is compromised. My FIL is one of 12 and my MIL one of 8. Having 5 children and 20 odd grandchildren isn't unusual around here on the West Coast. Add the clean air and water and home grown food and exercise outside and strong community and lack of general urban stresses, and people live for ever too. Nobody is relying on inheritances here.😂

Not expecting anything from either my OH's or my family. We both come from very working class families with limited means and no assets.

As other PPs have said it does sting when I see friends benefitting from financial support and inheritances which have enabled them to make choices we can't e.g. having more children, working part time, career changes etc. I feel we've had to choose stability, take fewer risks and be more financially savvy.

We are both higher income earners though, own our home, have savings and investments etc so we hope we will be able to support our DC when they reach adulthood.

I have already inherited a good bit (£250k ish). It’s hard to say if there will be anything else coming. I’m NC with my mum, but an only child. She has sold her home and is renting at nearly £2500 a month from what I can tell. Which I think is bonkers for a woman in her mid 70s with no family to care for her, but it’s her money, her choice.

Dh, hard to say, MIL has a lovely home, but may need to care for her. We can do some, but live an hour away so probably can’t provide day to day care.

We are very financially comfortable though so don’t need or expect anything.

My MIL is the eldest of 13 and her parents still left their house to one son…

Nothing from DH side - his brothers took everything as we do not live in the same country (DH is a wuss and doesnt challenge them)
Me nad my siblings got exactly the same - my parents made sure that it was very transparent and were open about who got what. However I am very close to my siblings so we would not care if one got more or less. We all got

• Deposit for our first house
• Our children all got 50k in a trust
• Our education was all paid for - no student loans etc
• 3 million each given in 3 times - to avoid inheritance tax.
• First car for each grandchild (some have already got while some are still 6 years old)
• Whatever is left will be shared equally.

We are lucky - but we all work hard as well and earn our own money.
Having said that, our children will be in a very privileged situation and sometimes I feel they do not understand the value of money and struggle.

Unlikely to for a long long time. My parents were both 21 when they had me so my mum is only 64 and will hopefully live for a very long time. My granny already passed on her flat to her (mum doesn't have a property of her own and lives in a property which my aunt's second husband owns), although she still lives in it and I am hoping will also live for long time still.
My dad passed away 20 years ago and a little bit of money came from that which I did invest at the time and have a decent return so I can't exactly complain but wouldn't call it "generational wealth" either.
I have no kids of my own but my cousin just had a baby - the first and only one from the four of us. So the baby will be the beneficiary of my will and, hopefully, it will help them out a bit. Although, I expect they will be well into their 50s when I eventually kick the bucket.

Dh and I will inherit quite a lot. But this thread reminds me of why I strongly support higher inheritance tax even though it would impact us. There will never be equality when your life is decided by what you inherit

Yes, but we'll likely have already paid off our mortgage by then. Currently both have all 4 parents approx age 70. The only help we have had was a £6k house deposit (5% back in the day).

You could do what my father's stepmother did and leave it all to charity! None of his family got a bean of my grandfather's considerable wealth. My father and aunt got a small sum due to Scottish law when GF died.

Not a bean.
(D)F remarried someone who hated and still hates me when I was 6 (I had to live with them until she threw me out at 16 day I left school) and all their £££ will go to their son and his children.
DM has always been a free spirit worked hard, but also has a life time trust fund, her own home plus amazing pensions, she is single and living life, currently on a 6 week holiday somewhere fabulous.
She will leave her money to my DS and her nephew!
But my DS will be ok and she is happy so thats all that matters really.
DH's parents died and their assets went to their partners, it then got complicated as the partners of not many years who had been trusted to make sure DH and siblings would inherit changed their wills and so received nothing.
But we are doing well, our DS's will be looked after well when we go.

Why do you hate these discussions?

You may have made your own money so far but there's a very big difference between working hard but receiving a massive cushion at the end, and working hard with only what you have made personally.

It doesn't matter when you receive it, that sort of security is a game changer.

Quite a bit I imagine.

My parents have about a million in assets which will be split three ways. They're also incredibly healthy and very resistant to any remote idea of a care home due to bad experiences with family. I wish they were less

My husband and I both have childless aunts. Mine has five niblings, whereas my husband is the only one. Probably come to about the same amount as my aunt is much better off.

Around half a million to me in total, I expect.

We will probably be pretty boring with it, and let it sit as investment income and carry on the generational wealth.

Whilst I don't want to downplay our fortunate position, I do hate the kind of discourse that suggests that having this level of generational wealth is harmful. It's not. It allows me and my siblings to live comfortable but modest enough lives, to do valuable work for society (two in education, one in health research) without also being any kind of burden on it.

Some people talk like we're Jeff Bezos.

My parents are sitting on a lot but they're in their 60s and lead such unhealthy lifestyles and they're barely sprightly for their age as it is... I'm certain they will need it all for carers/medical stuff over the next few decades.

None here, all gone in care fees. Friend's children have received quite large sums from relatives, huge help when looking to buy a house. My girl will be renting forever, I think.

I don't object at all to inheritance tax, however, as above, I don't think having a moderate level of generational wealth is harmful.

I think the redistribution of wealth needs to come from those who have wealth far in excess of what is needed to live. Not from those who merely have the opportunities that EVERYONE should have.

I know it's very convenient to suggest that people who are more well-off than me bear the brunt of it, but it would take Jeff Bezos 16 million years to earn his current wealth at minimum wage.

I'd like to see a cap on profit making by companies set at a ratio to the income of all their staff personally.

Bit of a weird mixed bag for me. I’ll inherit some very nice antiques and some weird problems. My parents don’t own their home, it’s rented, but they have an archaic lease that can be inherited unless we’re paid off handsomely to relinquish it. It’s possible my DS will eventually want to take it on and it could be bought from the old family estate it belongs to well under market value (they’re cash strapped and have been selling off bits of land and property for years, very little remains), but there’s also the issue of my mentally ill younger brother who still lives at home. My DH will get very little because he has six siblings, any savings of his mum’s have already gone on dementia care and his parents have let their house deteriorate to the point where it’ll be cash buyer only when the time comes, it’s an unmaintained shithole.
I dread all of it.

No idea if I will inherit much but also don’t care.

From a fairly poor working class background and also a tonne of step and half siblings so I doubt it.

But I want my parents to enjoy their money and not think about leaving us inheritances. My life is my responsibility .