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doublenot7

Clear Lake, Texas

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Posted: 08/01/12 07:49pm Link  |  Print  |  Notify Moderator

Inheritance is not mandatory but nice to do if you can and if they deserve it. My Grandparents have too many kids that cannot get along at all, I advised them to spend every dime they have and that none of us need anything from them but their love. Due to family fun, when my mother dies I know I will not see a dime though by her intentions I am supposed too, I'm fine with that too.

houtrz

Lake Jackson Texas

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Posted: 08/03/12 10:40am Link  |  Print  |  Notify Moderator

Skid Row Joe, are you talking about Federal or State? I didn't even consider state, I guess everyone wants their cut

Skid Row Joe

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Posted: 08/09/12 11:49pm Link  |  Print  |  Notify Moderator

houtrz wrote:

Skid Row Joe, are you talking about Federal or State? I didn't even consider state, I guess everyone wants their cut
County and State. Check with your estate attorney.


“I swear to God, it's like I live in a trailer of common sense, and stare out the window at a tornado of stupidity.” >'=='<


emzee

california

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Posted: 08/04/12 12:36am Link  |  Print  |  Notify Moderator

Bama, for what it's worth, there are big tax consequences to pass something like that to your kids while you're still living. You should consult a tax attorney first.

We need to get a living trust, I forget about this and then I am reminded...

Charlie D.

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Posted: 08/10/12 06:20am Link  |  Print  |  Notify Moderator

Skid Row Joe wrote:

houtrz wrote:

Skid Row Joe, are you talking about Federal or State? I didn't even consider state, I guess everyone wants their cut
County and State. Check with your estate attorney.


Hourtz-Dependent on state. There is no inheritances tax in Texas. Check out this website: http://www.retirementliving.com/taxes-by-state


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paulcardoza

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Posted: 08/10/12 06:38am Link  |  Print  |  Notify Moderator

My goal is to leave this earth with $0 owed and $0 in the bank. My parents took ill within a year of each other and were forced into nursing home care for the last years of their lives. After working their entire lives to put a decent nest-egg together, literally every nickel went to the state. Luckily, they had a long and happy retirement before taking ill. I resolved myself to making my final years as enjoyable as possible, as you never know what tomorrow will bring.

I am successful enough where I never wished for an inheritance and hopefully, my kids will feel the same way. They had better!!! ;-)


Paul & Sandra
New Bedford, MA
2014 Heartland Cyclone 4100 King

CavemanCharlie

Storden,MN

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Posted: 08/10/12 07:23am Link  |  Print  |  Notify Moderator

Well, I got a idea. Since many of you don't feel comfortable leaving the money to your kids why don't you leave it to me. I promise I'll take good care of it for you.

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