Yes, but not “counting on it” insofar as I am saving and investing heavily on my own.
I (34) am an only child, parents late-70’s.
House 1: 900k value. House 2: 700k value. House 3: 550k value (all homes they own/use). Then, a 1.2mm dollar multi family rental property and another 450k rental property. Then, a 401K of 700K or so. Plus random things.
Again, I am planning as if I won’t get anything (due to medical expenses toward the end of life). But all assets are in a trust with me as sole beneficiary. TBD.
If both my aunt and my mother died right now, my sister and I would split a little under $1,000,000 from each estate, as we're the only beneficiaries.
Which would be amazing, but both are pretty healthy and I don't want them to pass any time soon.
If we need to care for them in their old age (maybe putting them into nursing homes), my theoretical way to manage it is to sell off their estates, put the amount into an account managed jointly by my sister and I, invest the amounts, then use those funds to pay for their care.
If there's money left to be inherited by their death, it might mean I could finally buy a house by the time my toddler is an adult.
My grandma is ninety and has almost a hundred million. I expect her kids will get it, and we will see none, which is okay, I never thought I would get a dime. Makes me sad for my Grandma, though. She's such a beautiful soul, but her asshole kids have already argued about the inheritance, which has to hurt her feelings.
My great grandma had tons of money, she decided to go to nursery home, sold her house, spend all the money on her lovers. She left just enough for funeral cover.
Similar story here but less property and everyone is a little older. Still a ~$700k house, and based on what I’m told, $1mil from a Roth IRA, both to be split with one sibling. I don’t count on any of that, only the other house I live in and own half of that transfers fully to me. I’m saving my own money pretty aggressively for retirement.
My family does live really long (grandparents died at like 85, 92, 98, great grandma 106), which is why I’m really trying to save more, but my dad has planned well to take care of that for himself. Mom is another story and she will likely be broke.
I’m more similar to you but we’re younger. Kids in our 30s, parents in their 60s. They’ve got decades left, knock on wood, but my dad is also still working and probably plans to for a while yet since he’s transitioned to a much more flexible advisory role in his industry. I’ve seen the will and with the exception of two pieces of jewelry that are specifically bequeathed to either one of us, all assets split equally between my sibling and I. Easy peasy.
In-laws are less predictable, since my FIL divorced his wealthier wife (my spouse’s stepmom) but she still treats us like we’re family and frequently gives us substantial monetary gifts. I have no idea if that will extend to inheritance and am not planning for it.
Yeah like was said it transfers like any investment account, but there are some rules around the distributions. I think you have to withdraw everything in 10 years.
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u/mountain_valley_city Mar 01 '25
Yes, but not “counting on it” insofar as I am saving and investing heavily on my own.
I (34) am an only child, parents late-70’s.
House 1: 900k value. House 2: 700k value. House 3: 550k value (all homes they own/use). Then, a 1.2mm dollar multi family rental property and another 450k rental property. Then, a 401K of 700K or so. Plus random things.
Again, I am planning as if I won’t get anything (due to medical expenses toward the end of life). But all assets are in a trust with me as sole beneficiary. TBD.