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drbubb

Are you waiting for a inheritance ?

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Are you waiting for a inheritance ?

Your parents may have other ideas

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Two thirds of adults aged under 35 expect to receive an inheritance but half of those aged over 50 are already spending the money, according to a survey of 2,000 people by Skipton Financial Services.

 

More than a third of the older group said leaving an inheritance would put a strain on their finances and more than a fifth said they did not expect to leave anything to anyone else when they die. That could lead to awkward scenes at the graveside – if not before – and leave many adult children bitterly disappointed.

 

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Andrew Barker, managing director of Skipton Financial Services, said: "It is no surprise that with rising taxes, university debt growing by the year and mortgages much more unaffordable than before the credit crunch, young people are more and more desperate for a financial helping hand from their parents.

 

"It is particularly scary that, while almost two thirds of youngsters are expecting to receive an inheritance, for the vast majority of these it is purely an assumption as only one in four has had a conversation with their parents about the inheritance."

 

/source: http://www.telegraph.co.uk/finance/personalfinance/consumertips/8702757/Expecting-an-inheritance-Your-parents-have-other-ideas.html

 

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I was going to indulgence myself by posting a rant about this article here, after seeing some comments on HPC.

But after thinking about it, I thought my rant might offend a few people, so I decided to post an excerpt and see what sort of comments others might post, if any.

 

My main thought is waiting for an inheritance wastes time and erodes family respect. I have little regard for those who fall into that trap

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There are still people dying that have left their belongings to the government by default.

Might be a business there connecting charity to them. Probably already being done.

 

My parents are dead and I never got much then anyway! Sad to see the sum of your parents

life down to such a pitiful amount. It wasn't so much the money as what it represented that

was particularly sad. Of course it is easier for me now as I don't have the burden of paying

for their retirement which I have no question I would have. Even if it meant living with

my mother.... *gulp* which would have been entertaining if nothing else. God bless 'em both.

 

I wouldn't expect them to pay anything for me now, after all isn't that what they do when you

are a kid? Knowing how hard my parents worked I'd want them to enjoy it before they died

anyway. I'd want my children to be secure but I'm working on that while I'm alive.

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Knowing how hard my parents worked I'd want them to enjoy it before they died

anyway. I'd want my children to be secure but I'm working on that while I'm alive.

I agree with those sentiments.

 

I can recall when I was in London, I met people in their 20's who had expected to inherit "beaucoups" of money from their parents. Because of that, they never bothered to prepare for a proper career. For instance, one of them had gone into acting.

 

Then the "Lloyds of London affair" came along, and it looked like the expected inheritance may have evaporated. This was sad for the young people who suddenly had lost their privileges. But it was also a blessing in disguise, because they began to think of a "proper career." Eventually, a whole new sense of independence, achievement, and self-empowerment came out of it.

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