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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

Texas

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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 want to die in my sleep like my Grandfather... Not screaming and yelling like the passengers in his car.”


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.

E. Texas-Orange

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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

Southeastern Massachusetts

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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
2003 Monaco Executive M43 DS2

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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