To many of us, receiving a large inheritance might be the only way to get ahead. After the mourning is over and grief becomes bearable, this money can be used to build yourself a more comfortable life, and sometimes, it can help your children’s future as well.
But as the popular saying goes, more money—more problems. Finances are one of the top issues couples fight about, and this story from Reddit is a vivid example of why that’s the case.
The two fiancés can’t agree on what to do with the generational wealth in the woman’s bank accounts, and their disagreements have gotten to a point where every possible arrangement feels unfair to one or the other.
After inheriting a significant amount of money from her grandfather, this woman planned on passing it down to her daughter
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But her fiancé felt that his children were entitled to some of the funds as well
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Soon after telling her story online, the mother responded to comments and clarified some details about the situation
Many readers assured the mom that she was right to look out for her daughter and warned that marrying this particular man might be a mistake
She later posted an update on the situation and her status with her partner
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Most parents want to leave an inheritance for their kids, but not everyone can
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While the thought of losing a parent is an unthinkable idea that most of us don’t even want to cross our minds, unfortunately, it is something parents need to consider eventually. One day, they will leave their children, and it’s wise to plan for what will happen when they go and if it will be possible to leave anything behind for their sons and daughters.
According to Business Wire, 83% of Americans want to leave money or assets to a loved one, but only 64% feel that they’re actually prepared to do so. In fact, only 50% have a formal plan in place for the inheritance they’ll leave. But even for those who will receive something, less than a quarter of parents will inform their children how much they’ll be getting. Because of this, people often have unrealistic expectations about how much they’ll inherit.
Over half of those surveyed said they expected to receive over $100,000, while in reality, only 28% of people inherited the amount that they anticipated. And unsurprisingly, the topic of inheritance can cause conflicts in many families. 24% of Americans worry that it will cause tension or disagreements among their loved ones.
Inheriting money or assets can often cause conflicts among families, especially blended families
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The issue of inheritance can become even more complicated for those who have blended families. Are step-children entitled to inheritance from both of their parents? According to Relational Law, stepchildren do not have inheritance rights unless they’ve been legally adopted by their non-biological parents. However, they can be included in inheritance if they’re specifically listed as beneficiaries in a will or trust.
In some cases, stepchildren can also challenge a will if they feel they’re entitled to some inheritance. Family Lives explains that, in the United Kingdom for example, “If a stepchild was treated as a child of the family by a married stepparent or was financially dependent on a stepparent who has died, and there is either no or inadequate provision on the death of the stepparent, he or she can make an application to the court under the Inheritance (Provision for Family and Dependants) Act 1975.”
This does not necessarily mean that the stepchild will actually receive anything, but if they’ve been living in a household with the stepparent, they could be considered at least partially a dependent. However, according to Vail Gardner Law, sometimes when a parent passes, there will be disputes between the surviving parent and their remaining stepchildren.
People are allowed to decide where their inheritance will go and are not obligated to share it with their spouse
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The children may resent their stepparent for inheriting things from their biological parent that they feel entitled to. Angry stepchildren sometimes want to create challenges for the living parent or accuse them of elder financial exploitation. The mother in this particular story foresaw some of the possible issues that could come from her daughter receiving a sizable inheritance, so she decided to nip the problem in the bud.
In the United States, people are typically not obligated to share their inheritance with their spouse. However, if disputes over inheritance arise during a divorce, it sometimes becomes common property between both parties, depending on state laws. But in this case on Reddit, it was likely wise for the mother to hold off on any wedding planning, at least for now. It’s not worth it to tie the knot if the issue of inheritance will keep surfacing.
We would love to hear your thoughts on this story in the comments below, pandas. Do you think this couple made the right choice to hold off on marriage? Then if you’re interested in reading another Bored Panda article, we recommend checking out this one discussing inheritance issues.
People had mixed feelings about the mother’s update
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