I am a millennial and my parents are in their 70s, retired comfortably. I fully expect my inheritance to be stolen. I have a sister and we get along well but I don't suspect she would be the culprit. No, I expect long term care and end of life medical care to clean my parents out. It's like hospital systems and assisted living facilities are specifically designed to shake down the elderly for every red cent in their pockets so shareholders can take my inheritance.
Don't forget that nursing homes can get expensive fast. I'm currently paying $13,500 a month for my grandmother to be in a nursing home. A few years of that can change the inheritance situation quickly.
My 93 year old cousin had to put his wife into the Alzheimer’s unit and paid 18,000/month. You’d think that because they live in a cottage nearby attached to the nursing home, that it would be more judicious. She died a year later. He knew if it would go on, he’d be bankrupt. Eeeeek! That’s where money and love or at cross purposes.
I am blessed to have little to give. The house is about all. The will says the house can be sold and the money divided evenly between them. While I am living, the children must come and tell me what they want as far as belongings. Any potential fights the object is to be sold and the money split between the two. As far as the child who has made bad decisions, his money goes into a trust and given as monthly living allowance.. I hope this will keep my death the way I lived,in peace.
Don't overthink it - Especially in families of Ne'er Do Wells it is simply dog eat dog. PS Some people are just mean assholes looking to get that last twist of the knife.
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I am a millennial and my parents are in their 70s, retired comfortably. I fully expect my inheritance to be stolen. I have a sister and we get along well but I don't suspect she would be the culprit. No, I expect long term care and end of life medical care to clean my parents out. It's like hospital systems and assisted living facilities are specifically designed to shake down the elderly for every red cent in their pockets so shareholders can take my inheritance.
It’s a racket. Maybe your folks can distribute their money to you before they go to a facility that robs them blind??
My mother's philosophy with personal belongings was to distribute them while she was still alive. Especially when it came to sentimental items.
Don't forget that nursing homes can get expensive fast. I'm currently paying $13,500 a month for my grandmother to be in a nursing home. A few years of that can change the inheritance situation quickly.
My 93 year old cousin had to put his wife into the Alzheimer’s unit and paid 18,000/month. You’d think that because they live in a cottage nearby attached to the nursing home, that it would be more judicious. She died a year later. He knew if it would go on, he’d be bankrupt. Eeeeek! That’s where money and love or at cross purposes.
I am blessed to have little to give. The house is about all. The will says the house can be sold and the money divided evenly between them. While I am living, the children must come and tell me what they want as far as belongings. Any potential fights the object is to be sold and the money split between the two. As far as the child who has made bad decisions, his money goes into a trust and given as monthly living allowance.. I hope this will keep my death the way I lived,in peace.
Don't overthink it - Especially in families of Ne'er Do Wells it is simply dog eat dog.
PS Some people are just mean assholes looking to get that last twist of the knife.