Do You Have an Inheritance “Right”

Do You Have an Inheritance RightEver seen the bumper sticker that says “I’m spending my children’s inheritance”?  You may have laughed about it when you saw it, but would you still be laughing if it were true?

Most children believe they will receive some form of inheritance from older generations, but the reality is that notion is quickly changing.  With medical advancements enabling people to live longer and the financial strains that are hitting everyone hard, the truth of the matter is that many aging Americans will not leave behind an inheritance.  Worse yet, you may spend some of your own savings trying to properly care for your parents later in life.  So, don’t think you have an inheritance “right” that will be fulfilled.

Moreover, even if your parents are able to leave you an inheritance, don’t fail to consider that they may have chosen to do otherwise.  If you haven’t provided them the love and support they expected through the years, they may intentionally omit providing an inheritance for you.  Even if you are on good terms with your parents, perhaps they have charitable notions that extend beyond leaving a legacy to their children.  Having provided for children during life, some parents decide they would rather satisfy charitable inclinations upon their passing which may supersede children’s presumed inheritance.  In a nutshell, just because you’re a child doesn’t mean your parents have to leave you an inheritance.  There is no such thing as an inheritance “right,” especially when your family members intentionally provide otherwise.

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