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Inheritance Attitudes for Inheritance Planning & Estate Example
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Inheritance Attitude
Inheritance in a family invokes varying feelings, opinions, and decisions. Respondents with Estates of $500,000 of Less Respondents with Estates Over $500,000 Regarding family... I should focus more attention to planning what happens to my money after my death. 55% 40% If I have taken care of my family during my lifetime, my family has no further obligation to me in their wills. 22% 22% Leaving money after my death is not that important. I would rather build assets for my retirement than leave an estate to my heirs. 65% 64% Money should be given to members of immediate families before non-relatives. 67% 78& Unless a minor, there should be no stipulation or conditions attached to inheritance that someone leaves behind. 43% 58% Inheritance tends to cause conflict in the family. 50% 45% Regarding spouse... Husbands and wives should leave everything to one another. Then the survivor will make final provisions for what happens to assets upon their death. 55% 50% An estate left to a spouse should be in a trust to protect it if a spouse remarries. 42% 46% Regarding children... Money left by parents for children should be left in trusts. This way, children can use the income but the principal will stay intact. 52% 51% Children understand when a parent leaves a large about of money to charity, causing the inheritance to be not as much. 30% 27% Children who inherit money before they are out on their own (after education) are deprived of knowing how it is to be on their own. 32% 40% Leaving behind inheritance for my loved ones is more important than my own comfort during my retirement. 40% 33% Parents should split inheritance equally among children regardless of children's financial circumstances. 75% 73% The daughter should receive more inheritance than a son, because the daughter will mostly likely earn less in her lifetime. 55% 38% Regarding Grandchildren... Grandchildren should be provided for separately in the will. 52% 57% If a divorced or widowed son-in-law or daughter-in-law remarries, the obligation to provide for natural grandchildren is no longer the same. 10% 9%
Inheritance in a family invokes varying feelings, opinions, and decisions. Respondents with Estates of $500,000 of Less Respondents with Estates Over $500,000 Regarding family... I should focus more attention to planning what happens to my money after my death. 55% 40% If I have taken care of my family during my lifetime, my family has no further obligation to me in their wills. 22% 22% Leaving money after my death is not that important. I would rather build assets for my retirement than leave an estate to my heirs. 65% 64% Money should be given to members of immediate families before non-relatives. 67% 78& Unless a minor, there should be no stipulation or conditions attached to inheritance that someone leaves behind. 43% 58% Inheritance tends to cause conflict in the family. 50% 45% Regarding spouse... Husbands and wives should leave everything to one another. Then the survivor will make final provisions for what happens to assets upon their death. 55% 50% An estate left to a spouse should be in a trust to protect it if a spouse remarries. 42% 46% Regarding children... Money left by parents for children should be left in trusts. This way, children can use the income but the principal will stay intact. 52% 51% Children understand when a parent leaves a large about of money to charity, causing the inheritance to be not as much. 30% 27% Children who inherit money before they are out on their own (after education) are deprived of knowing how it is to be on their own. 32% 40% Leaving behind inheritance for my loved ones is more important than my own comfort during my retirement. 40% 33% Parents should split inheritance equally among children regardless of children's financial circumstances. 75% 73% The daughter should receive more inheritance than a son, because the daughter will mostly likely earn less in her lifetime. 55% 38% Regarding Grandchildren... Grandchildren should be provided for separately in the will. 52% 57% If a divorced or widowed son-in-law or daughter-in-law remarries, the obligation to provide for natural grandchildren is no longer the same. 10% 9%