Inheritance... is it worth it?

[Darr3nG]

I'm caught/involved on both sides...

1. My father and uncle fighting over some farmland (not worth much, but apparently worth it all to them!) - none of my generation actually give a terrible!
2. My OH and her family sqaubbling over their family property(s) - split equally four-ways, but unless everyone agrees to sell, how does that work?

I'm sick of it all. It's made me more determined to "liquidate" all my assets, convert to gold and silver, and make sure it's distributed equally - my offspring can follow a map and dig it up!

[flyingveepixie]

Nightmare mate.  That old saying about money being the root of all evil eh...

[Uksilverstackers]

4 hours ago, Darr3nG said:

I'm sick of it all. It's made me more determined to "liquidate" all my assets, convert to gold and silver, and make sure it's distributed equally - my offspring can follow a map and dig it up!

Agree 100%, when the time comes with a bit of forward planning. 👍
 

 

Edited August 21, 2022 by Uksilverstackers

[ArgentSmith]

6 hours ago, Darr3nG said:

My OH and her family sqaubbling over their family property(s) - split equally four-ways, but unless everyone agrees to sell, how does that work?

The executor should sell the properties and divide the money? if someone wanted to keep the properties they need to buy out other parties at fair market value.

[LawrenceChard]

6 hours ago, Darr3nG said:

I'm caught/involved on both sides...

1. My father and uncle fighting over some farmland (not worth much, but apparently worth it all to them!) - none of my generation actually give a terrible!
2. My OH and her family sqaubbling over their family property(s) - split equally four-ways, but unless everyone agrees to sell, how does that work?

I'm sick of it all. It's made me more determined to "liquidate" all my assets, convert to gold and silver, and make sure it's distributed equally - my offspring can follow a map and dig it up!

The only solution is to spend it all before you go!

😎

[MickB]

I've been listening to my dad in how he's been conned out of his late mum's will by his sisters so has had to get a solicitor involved. Talk about getting bitter with all the mudslinging going on.

Then there's my mother in law who's written everyone out of her will except for my niece who gets everything. My wife and brother in law have been written out of the will which has caused untold arguments.

I like the idea of a viking funeral, push the burning boat out with all your belongings and watch it sink. No arguments at the end of it as there won't be a thing left.

[Thelonerangershorse]

49 minutes ago, MickB said:

I like the idea of a viking funeral, push the burning boat out with all your belongings and watch it sink. No arguments at the end of it as there won't be a thing left.

A post mortem boating accident, a Silver Forum favourite.

Edited August 21, 2022 by Thelonerangershorse

[modofantasma]

Better goin' owin' 🤣

[Rains]

It always brings out the worse in people when money is involved

[Petra]

That’s why you need a will!

[Xander]

I recently made a will. It cost £200.00. gave a copy to my sons, the original is with the lawyer. If they have any disputes with the will, now is the time to discuss them.

Save any arguing when I'm dead. 

[Xander]

8 hours ago, flyingveepixie said:

Nightmare mate.  That old saying about money being the root of all evil eh...

Money in itself is not the root of all evil. It's the love of money that's the root of evil. 

[Tn21]

The benefit of au & ag in theory is that it can be off the books.

I am dealing with a bereavement of a family friend who has recently passed away. The guy was asset rich and already his immediate family are circulating around trying to claim assets and a % of his wealth. His estate will be taxed at 40% and the company who he had the will with has informed the executor that all properties will have to be sold.
 

For a fee of £18k they apparently will take care of everything 🤨. I told the executor what ever happens when it comes to sell make sure you get market value as there can be back handed deals going on enabling buyers to buy properties on the cheap. From my understanding any tax due get first dibs before it is released to probate.
 

A good idea if you have children and family you wish to have as beneficiaries, have a discussion with everyone present in the room to clearly state what your intentions are (bit hard giving figures and % ‘s) but a general overview can do no harm. 
 

The WILL is the legal document to go by, but every so often you must update your WILL. 

The dynamics between families often change when it comes to the distribution of wealth. 

Surely we must have some specialist inheritance experts on the forum?

 

Edited August 21, 2022 by Tn21

[LawrenceChard]

18 hours ago, Rains said:

It always brings out the worse in people when money is involved

And just for once, gold could be the worst thing of all!

😎

[LawrenceChard]

9 hours ago, Tn21 said:

Surely we must have some specialist inheritance experts on the forum?

 

I can help.

Just leave it all to me!

😎

[LawrenceChard]

On 19/08/2022 at 15:23, LawrenceChard said:

I often look around, and realise how poor I am.

There are a number of reasons I now have some capital:

I worked hard, and often long hours.

I used intelligence, and applied much thought.

I retained most rather than spending it.

When I do spend, I like to get good value.

I still work, 10 or 15 years after many people have retired.

I have always invested in gold, silver, coins, and other "stock".

 

I could have been much richer 40 or 50 years ago:

If I cheated people.

If I advertised or described stuff misleadingly.

If I had used any hard selling.

If I had not taken on a partner (very long story).

 

I certainly am not rich enough to manipulate the silver market.

I can't afford to buy a decent yacht to have a boating accident in!

😎

 

On 21/08/2022 at 11:48, Thelonerangershorse said:

A post mortem boating accident, a Silver Forum favourite.

I could be delayed on my way back from Europe, due to a boating accident:

https://www.bbc.com/news/av/world-europe-62637627

😎

[Darr3nG]

There should be a “substantial” reduction in the amount of money parents can leave to their children tax-free, a Government-appointed commission on taxation has recommended.

[https://www.independent.ie/business/personal-finance/young-people-face-risk-of-substantial-reduction-in-the-amount-of-money-parents-can-leave-to-their-children-tax-free-41980900.html]