S/O Do you have plans for your inheritance?

Loveofjoe11 · November 2011

If you think you'll inherit something, do you already have plans for it?

Loveofjoe11 · November 2011

We hope to put ours towards our kid's education. I think DH would prefer to use it to put them in private/parochial school, but I would prefer to save it for college. DH always prefacing this conversation by, "I don't want them to die." I don't think anybody does, but he has family old enough to say things like, "you know you're going to get the house when we die," so I think it's ok to talk about it.

katiedom · November 2011

As some of you know, my dad passed away unexpectedly last year, and left my siblings and I with more of an inheritance than we expected. I paid off some bills, put a nice amount in a bank acct for Jack, am putting the same amount in a bank account for Carter, bought a new (to me) car, and put money in savings.

My grandmother (father's mother) passed away in September. (not unexpectedly, she was 94!) and turns out my siblings and I were named in her will, and we will also be getting my father's share of her estate, since he has passed. Totally had no idea this was coming. So, I plan to put some of the money in both of the boys' bank accounts (so they have a gift from their great grandmother too), and then just put the rest into savings. I will say that I have always been good with money, so all of this influx is providing me with a nice safety net, which is going to come in particularly handy with the divorce and me taking over the house all by myself.

I guess everything happens for a reason?

EmmaBrooke · November 2011

Not specifically, but we have discussed signing over the deed at some point for $1 to avoid paying the inheritance taxes on such a large piece of property. The rest is all more wait & see/

613marriedlady · November 2011

Nope. It's so far off, it's iffy if we will have it to inherit.

Mrs.MillerJune2008 · November 2011

we plan to primarily have that available for children's education if the timing is right. if not, probably put towards retirement/large debt payments.

naylon511 · November 2011

If we get anything from our parents DH and I would likely save it / put towards kid's education.

I got some money when my Grandma died and it went into my savings. So, some of that savings was used for wedding / down payment.

alliapistor · November 2011

Every time he buys something, FIL makes a comment about it coming out of "our inheritance." I don't know how much is a joke and how much is for real. I think we will get a small monthly annuity though. We will put it towards Cooper's education - unless the inlaws have also set something up for that which is possible. Otherwise, we would probably just invest or save it.

mrsjanks · November 2011

Pay off student loans. Big Smile

S/O Do you have plans for your inheritance?

Re: S/O Do you have plans for your inheritance?

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