Category: Inheritance
New study on expectations of wealthy young people is disturbing. A large percentage of affluent 18-22 year-olds believe that their retirements will be funded by the inheritances they expect to receive, according to a recent survey. This could mean they are spending all their own money and not saving any of it, according to Bloomberg […]
An inheritance can be wasted in many ways, including avoiding work and making bad investments. There are many possible scenarios that could lead to a wasted inheritance. Fears that this will happen appear to be on the rise because, in the next few decades, the largest transfer of wealth from one generation to another will […]
People do inherit from a long, lost relative. However, it isn’t all that often. If you should inherit money from a long, lost relative, someone administering the estate will contact heirs and let you know. This usually comes as a very welcome surprise for the heirs. However, this rare occurrence is also the subject of a […]
Information and education can go a long way in helping your children to use an inheritance wisely. Mistakes can be made by children who inherit money but lack the information on how to deal with it maturely and wisely, according to Nasdaq in “5 Things Your Kids Should Know Before They Inherit Your Money.” Much […]
What should be done ahead of time, if family members do not get along? The issue of blended families and dealing with trust issues while estate planning, was recently discussed in a Market Watch advice column titled “My mother-in-law is deceitful — can we stop her from stealing my wife’s inheritance?“. In this particular case, […]
As the cost for caring for the elderly increases, the amount of inheritance decreases. In wealthy countries, the idea of leaving an inheritance is in jeopardy and may become a distant memory for middle class families, according to the Financial Times in “Opinion Today: The end of inheritance.” Receiving even a small inheritance from parents, […]
Estate planning has not kept up with children joining families through technological means. While estate planning has generally kept pace with Americans living in blended families, it has not kept up with the developments in medical science for people to have children through such things as surrogacies and frozen embryos, according to Private Wealth in […]
Male primogeniture is the rule in England. There may be a way around the rule of male primogeniture in England, according to the Daily Mail in “New gender laws could let my girls inherit title, says Earl: Aristocrat suggests one of his daughters could identify as male after his death to claim his title.” The […]
If your children inherit your retirement accounts, they will have options about what to do with them. The Wills, Trusts & Estates Prof Blog discusses some of the options that heirs have when inheriting retirement accounts in “What Your Kids Can Do When They Inherit Your Retirement Accounts.” Most people designate their spouses as the […]
If you inherit an IRA, you need to carefully consider your options and tax consequences. Americans hold a staggering amount of wealth in individual retirement accounts. It is far more wealth than the current account holders could ever possibly spend in their own lifetimes. That means that many people who have IRAs will eventually pass […]
