Inheritance

[jmac24]

I've told my parents and my wife tells hers the same. Spend as much as you can and if you want to leave anything give it to the grandkids for education. I plan to do the same with mine.

This is exactly what I did when my parents passed. Completely finished funding the kids TX Tomorrow Fund and then my brother, nephew and I went on an elk hunt. My dad always wanted to go and never did.

[topshot]

I want my children to stand on my shoulders when I'm gone! What good is there in making them start out at the same place I did? Let my ceiling be their floor.

Imagine if you gave your grandchildren (or children) a home when they turned 21. This would enable them to break free from debt/Babylonian mindset. They could pursue work that they are gifted in, which ultimately does more good for life and society than living for a paycheck.

It would also enable them to save money and keep it in the family line. If every generation that followed continued in that tradition, nobody past you would ever owe a bank money again! Instead, you would be the foundation upon which inheritance and wealth could grow for every generation that followed. what a legacy that would leave in your family! the community!

Your name could be known for giving freely to those in need, the community, the church.

That's what I want! My parents/grandparents have very little and are unable to give to us now. I want to be able to initiate this for my family line going forward. it means sacrifice on my part, but abundance and wealth for those to come!

a good friend of mine received her inheritance from her parents in her 30's. her parents got to enjoy watching them be blessed by it. as a result, they are debt free and able to save money to buy a multi-million dollar business, bless the community, establish themselves as giving people. what an impact they are having! all because her parents gave what they could have spent on themselves.

Proverbs 13:22 A good man leaves an inheritance to his children’s children,
And the wealth of the sinner is stored up for the righteous.

[txpitdog]

My dad has told me, in no uncertain terms and on numerous occasions, that my inheritance will only be enough to cover the pine box to put him in and the shovel to dig the hole.


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[WCB]

When I die I don't think I'm gonna care where my money is/went...

[TB80]

While not directly on point, whether you plan on leaving an inheritance or not, I would highly recommend talking to an attorney and getting an estate plan put together. Especially if you have young kids. Money does strange things to people, and I have seen countless families ruined while fighting over money. While an estate plan won't necessarily avoid this, it can help to avoid it. I am fairly confident everyone in this thread would rather their money go to their family instead of the attorney's fighting over the family money.

[LWC]

Seems like most of the time when land or possessions is involved with an estate, the family falls apart and never talk again. It happened to my mother’s side of the family and they were tight before my grandmother’s death. I never would have thought it, but only two of the seven siblings talk now. They are all close to 80 or older now and the fued started over a 50.00 garden tiller.

I have see it happen over and over in other families as well. Maybe a guy ought to just die broke with nothing. I don’t know.

Yep, I've seen this break up a lot of families. Happened to my grandmother's family. Money can make people do stupid things. But so can pretty women and big bucks, so there's that

[TildenHunter]

I hope I can leave a pile of money for my kids and grandkids. I plan on enjoying my life and have been very blessed. My parents never made me take out student loans and provided a great upbringing for my siblings and myself. I hope to be able to do the same and would be happy to leave them a ton of money. We have 2 ranch properties that I don't see us selling anytime soon and hopefully they will stay in the family for generations as inheritance for the next generation. That being said.....I need to get busy over then next 20-25 years in order to leave them all the money I hope I can!

[WildMatt84]

I’m a firefighter, my kids aren’t going to be expecting a whole lot left after I’m gone

[lovemylegacy]

I have come to the realization that maybe my kids dont need to be left anything other than where I'm living at the time of my demise. Probably a couple vehicles as well.

Why not spend what I have worked for and made? Use the money to help my kids while I'm here and aid them in working towards a goal / dream.

I have no idea what my Mom and Dad will leave me money wise, but I really dont care either. I'd rather use that money that they think they may leave to create memories with them.

Exactly. My parents are dead set on leaving me something. I have tried and tried to tell them to spend it on themselves

[BitBackShot]

Exactly. My parents are dead set on leaving me something. I have tried and tried to tell them to spend it on themselves

You guys have the same beliefs, just in the opposite direction. You want everything for your parents, and they want everything for you.

It's a sign of a strong relationship. Congrats.

[Atfulldraw]

My parents saved their whole life and provided me with the opportunity to build on what they left me. I'm guessing that I still work a bit harder than the average guy, and spend less (relative to what I make). I'll be forever grateful to them for their sacrifices and for what they taught me about money.

The main gift I want to pass along to my daughter is the ability to manage whatever money she ends up with -- and I never want her to have to struggle through life (or marry the wrong guy to make ends meet.)

[doghouse]

I'm trying to do as my parents did us kids. Little bit of land but very little cash.

[Plainsman]

After pondering the pleasantries of this thread the best one so far is the “ashes in the feeder trick”. Don’t worry about it.

[Tbar]

My parents saved their whole life and provided me with the opportunity to build on what they left me. I'm guessing that I still work a bit harder than the average guy, and spend less (relative to what I make). I'll be forever grateful to them for their sacrifices and for what they taught me about money.

The main gift I want to pass along to my daughter is the ability to manage whatever money she ends up with -- and I never want her to have to struggle through life (or marry the wrong guy to make ends meet.)

I hope I can leave a pile of money for my kids and grandkids. I plan on enjoying my life and have been very blessed. My parents never made me take out student loans and provided a great upbringing for my siblings and myself. I hope to be able to do the same and would be happy to leave them a ton of money. We have 2 ranch properties that I don't see us selling anytime soon and hopefully they will stay in the family for generations as inheritance for the next generation. That being said.....I need to get busy over then next 20-25 years in order to leave them all the money I hope I can!

I am going to leave my kids a large chunk of money and assets. My number one intent is for this to be a multi-generational gift that they pass on to their kids and grandkids.

I want to express to them not to blow it which won't be a problem with my son. He is tight just like me. My daughter, on the other hand, I am concerned about. Looking for the right moment to sit down and tell her what I want. The accounts must always grow by X amount per year. Anything above that spend to your heart's desire.

[Landrover]

I have already told my parents to divide everything between my two older siblings. WE do plan to leave our only child set for the rest of her life.........and prayfully her children. To each his own on how this matter is handled but we tend to be very traditional.