Spending the inheritance!

None of us here may have anything left after care homes have taken their bit. We have given our grandchildren money from a trust which DH set up. I wasn’t very happy about it and it has been no fun trying to get it to them. Every one in the financial world believes we are money launderers unless we prove otherwise! We have happily helped with paying out of school activities

Tax man in one country took large chunk of inheritance and now taxman in country that I live in will take another large slice. I am sad that it is wealth carefully minded from a great gran who married in 1881 and was widowed at age 23 yrs. It seems to have been passed on and not 'spent' in succeeding generations in accordance with Victorian values of thriftiness.

That's not a lot of money at all

I don't see the issue with it really...

Inheritance is a gift, one that no one has to give. It doesn't sound like there were any stipulations about how it was spent and the giver may very well have just wanted their family to smile

As far as I know, my parents received no inheritance from their parents. DM was one of 6 and parents died quite young, before I was born. DF's parents died 1950 and 1960. My parents died early 1980s and I received £150. Total inheritance between 4 was £600. I paid £50 into each of my very young children's bank accounts. I think no less of my parents because they basically left nothing other than enough to cover funeral costs. Perhaps we should stop thinking about what others are going to receive when we have gone and enjoy our own life. Some, in our eyes, will waste whatever they receive, others will be careful. Only if you dictate in your Will what is to happen to any moveable estate will you feel it is used wisely. I never give it a thought, probably as I never received any inheritance to waste.

I received a good inheritance, over £200,000 ten years ago and I still have it . Already paid off mortgage , not into new cars and are not the type that goes on exotic holidays.
I am aware this makes me sound a boring , staid , saddo but I also feel I am spending someone else's money ( they were very dear to me )
Having said that they would probably be annoyed that it hasn't actually been used to improve my life.

When my parents gave my daughter (aged about 20 at the time) an unexpected £100 I remember her writing to thank them and saying she was going to spend it on “fun and laughter”.

My grandmother left me money in her will. I used it to help fund my (belated) experience of attending university so I didnt have to drop my standard of living by too much.

The day I graduated I thought of her and imagined her sitting on the front row alongside all the local worthies.

She also left me the contents of her house which started me off in the antiques world.

I think teenagers would probably spend the money on things like clothes rather than a lasting object by which to remember their great grandfather, who may have worked all his life to save the inheritance.

I’ve always believed it’s so much better to give with a warm hand rather than a cold dead one!
We enjoying spending our money on things such as whole family holidays which are very much enjoyed and leave us all with great memories.
In May we’re taking our 11 year old grandson to NYC for 5 nights - we have so many fun touristy things planned which we’ll enjoy but more importantly so will he.

£200 probably won't even cover a couple of concert tickets, let alone travelling and any hotel accommodation unfortunately.

Always remember my Mum saying an inheritance only comes once. I did not squander mine. Treats to members of family and days out are definitely not worth it imo! Invest in property or premium bonds.

I agree SeaWoozle. It's nice to be able to leave children and GC an inheritance and give something during your life time, but I think it's a shame if someone doesn't make the most of the time they have because they worry about how much they'll leave when they're gone.

You're a long time de4d and you can't take it with you. Spend it while you can on what makes you happy. As I've got older and having worked in a hospice where I've seen much younger people leave this world far too soon, we have one life to live. It's only money!!

I think our AC will use their inheritance to pay off their mortgages as they do seem to be a millstone around young people's necks these days.

When my grandmother died, as one of the grandchildren...we all received some money.
Not a huge amount by any means but enough to have a 'splurge'.
Talking about it later at a family event, each of us had bought something lasting ie jewellery/watches /a clock. As someone said "it's our last gift from Nan".
I'd bought earrings which I still wear!

We spend if we want and save if we want, our AC and GC will be pleasantly surprised when we have gone.

I hope they spend their inheritances on whatever brings them joy.

As they say, you can’t take it with you! I am trying to convince my friend to spend her money on herself NOW! She needs a second knee replacement and knows the wait is lengthy so we talk about her going private.

She is 72, has no children and no relatives at all. She does have a partner. She is very comfortably off now but she says why should she pay when she has paid her NI since she was 15. To an extent I agree but why should she spend her next decade or so in pain when she could get it done straight away. In her position I definitely would.

I think a good gift for young people is £500 by the way.

We all need to splurge once in a while - young or old.
Sadly £200 - £500 won’t buy a great deal.

I think that as her GF chose to leave it to her she can spend it anyway she chooses.. I expect it will be a one off celebration..