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Expect Less than You Think for Your Inheritance, Elder Law Attorney, Woodstock, GA


While the details change somewhat from survey to survey, there is something that appears to hold true in almost all studies about inheritances. It is that parents and their children have far different expectations about how much the children will inherit.

Most people do not really know how many assets their parents have. They do not know exactly how much their parents have saved for retirement. They do not know how much their parents earn at work.

When you get right down to it, adult children do not know any of the important details about their parents’ finances.

There is something inherently American about not talking about money, especially how much we have and make, even with close family members. This even holds true when discussing estates and how much parents plan to leave their children as inheritances.

Only 21% of parents have told their children what to expect as an inheritance, according to Financial Advisor in “Hoping For An Inheritance? You May Not Get As Much As You Expect.”

The big problem is that most of the time, children think they will inherit more from their parents than they actually will. When people are disappointed with the size of their inheritances, it is when they start to think about fighting other family members over an estate.

It is rare to learn of an estate battle started by someone who gets more than they thought they would. On the other hand, it is not at all rare to see estate litigation brought by someone who gets less.

Estate litigation is extremely expensive and emotionally taxing for all family members involved.

To avoid it in your own family, you should consider letting your children know what they can expect to receive from you as an inheritance.

Reference: Financial Advisor (March 15, 2017) “Hoping For An Inheritance? You May Not Get As Much As You Expect.”

 

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I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

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I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

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