Do it while you can

[Tony50]

Makes you think how lucky I have been, a mate of mine has really suffered from Colitis for years had numerous Operations, eats little and often sick up, now on powerful Steroids, coupled now waiting for heart operation had to give up his Bowls Club , and after hearing all that today, my daughter in law said " Why are you buying a new Motorhome ? " I couldn't say it but it goes like this " With your attitude " "God forbid if my son died before you the Granddaughter will get anything we have when we peg out "

 

[kimndon]

Entirely agree. With these new inflation figures, a dire stock market and such uncertainty any savings could soon dissipate. Going to spend our inheritance on the garden and new car when we get back from Spain!!

 

[Winger]

Live fast, die young, have a good looking corpse. Unfortunately I left it too late

 

[Neil S]

Yep had a similar comment from my youngest Stepdaughter
“I hope your not buying another Motorhome " because that moneys my inheritance .
I thought she was joking but she was deadly serious
And then she went to say “ It must cost you a fortune when you go away , you should stay at home more "

 

[cruiser]

Oh dear that sounds like my daughter. She tried to get my sons to help her stop our trip to the USA. Both my sons told her where to go .

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[Otter Spotter]

When my daughter first saw our van her first question was “When are you planning on pegging it? Because I want the van !” Cheeky sod, I told her it’s too big for her drive, but she has moved houses now and it will fit

 

[pampam]

wow……. Were the kids joking really?????

 

[DiggerJon]

Makes me realise how lucky I am. My two step daughters and husbands actively encourage me on my travels and have never intimated that I'm spending their inheritance. It might help that they know they are the sole beneficiaries in my will and will inherit the house of which they "own" 50% in a family trust set up when my wife died and that they hold joint and several LPAs for me. My trouble now is that I'm just running out of steam as I get older and arthritis makes doing things so much more difficult, so much so that I'm contemplating selling my MH but, but ............. I've been MHing since 1990 and I can't really imagine not doing it!

 

[bobnick]

Thank god we don't have daughters.
Our 2 sons positively encourage us to enjoy our retirement as we wish and in fact do more.
They know there will be a big bundle left for them in the not too distant future.

 

[Coolcats]

All of our money and assets will go to the Donkey sanctuary.......

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[AndyPK]

Live fast, die young, have a good looking corpse. Unfortunately I left it too late

Which one did you leave too late………?!?

 

[steve69]

Yep had a similar comment from my youngest Stepdaughter
“I hope your not buying another Motorhome " because that moneys my inheritance .
I thought she was joking but she was deadly serious
And then she went to say “ It must cost you a fortune when you go away , you should stay at home more "

You've just had your reason to get it all spent - on yourselves.

 

[RustyRuss]

Any potential inheritance my wife was going to get is now being consumed at an alarming rate by her Mother’s residence in a care home. Make sure you put your house in trust to your kids at least 7 years before you end up dribbling in a care home!

 

[Coolcats]

Any potential inheritance my wife was going to get is now being consumed at an alarming rate by her Mother’s residence in a care home. Make sure you put your house in trust to your kids at least 7 years before you end up dribbling in a care home!

Two things you can do 1) split the assets between yourself and your partner that way they they can only come after 50% of you home 2) when placing the home in a trust make sure the resident pays rental of some description or the trustees will pay capital gains 3) Get advice on points 1 & 2 I am not offering financial or legal advise its just what we have done

 

[Neil S]

You've just had your reason to get it all spent - on yourselves.

We are , I’ve already told my stepdaughter and her older sister that we will leave them the house only .
No cash it’s being spent .

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[AndyPK]

No cash it’s being spent .

What’s ‘cash’………??

 

[Hawkstone]

My father in law died last year. His house was almost squalor like and he actually told my husband he had lived a frugal life to be able to pass on his inheritance. Wonderful as that was, he left us a huge inheritance but to see how he lived was pitiful and terribly sad. We are going to help our 3 children out with lump sums and then use the rest to improve our house and to travel in the motorhome as much as possible. Our children are completely behind us. One has bought her own T5 and converted it. I have lost a few friends and colleagues over the last few years and it makes you appreciate what you have. A friend said to me recently….we should have a bank of memories not a bank of money. How right he is.

 

[jolly]

Thank goodness I have two lovely daughters who just want me and hubby to enjoy what we have. When we bought the MH they said good just start enjoying yourself. And spend what you have. We were thinking of putting the bungalow in trust but have not got round to it.

 

[pagey]

Yep had a similar comment from my youngest Stepdaughter
“I hope your not buying another Motorhome " because that moneys my inheritance .
I thought she was joking but she was deadly serious
And then she went to say “ It must cost you a fortune when you go away , you should stay at home more "

That would bother me although my daughter says she will get us into a nice private guest home in switzerland

 

[Neil S]

That would bother me although my daughter says she will get us into a nice private guest home in switzerland

Oh I know the one you mean
It’s name escapes my memory begins with a “ D” I think

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[Otter Spotter]

This may seem odd but I read a book by Bronnie Ware an Australian Palliative nurse called ‘The top five regrets of the dying’ it’s a wonderful book which will put things in perspective, she listed the top five regrets as stated by most of her patients all had only 5 to 8 weeks to live.
No 1
I wish I’d had the courage to live a life true to myself not the life expected of me

No2
I wish I hadn’t worked so hard

No3
I wish I had the courage to express my feelings

No4
I wish I had stayed in touch with my friends

No5
I wish I had let myself be happier

I think Motorhoming can help anyone who wants to address No’s 1,2,4,and 5, as for No3 I guess it depends on what you write on the side of your van !

The book is really well worth reading whilst you have time to change.

 

[Pablotti]

My parents have mentioned a few times about leaving things for me and my sibling. I'm sure they're holding back in their retirement in order to pass things on. They're only mid 60s, so they've a long way to go.

I reminded them again recently that we have no right, entitlement, or expectation. It's their hard-earned money. I'd much rather see them enjoy it and spend every penny.

 

[Cherub]

My parents have mentioned a few times about leaving things for me and my sibling. I'm sure they're holding back in their retirement in order to pass things on. They're only mid 60s, so they've a long way to go.

I reminded them again recently that we have no right, entitlement, or expectation. It's their hard-earned money. I'd much rather see them enjoy it and spend every penny.

I kept telling my mum that too. She kept saying she was spending little to leave more for my brother and me but I kept telling her we were fine so she should spend it in herself. Last year she was quite ill and in hospital a lot then a care home so I started spending her money, on her! I took in lots of nice new colourful clothes, shoes and slippers for her. The nurses enjoyed choosing her clothes each day. She passed in October.

 

[Tonks]

Yep had a similar comment from my youngest Stepdaughter
“I hope your not buying another Motorhome " because that moneys my inheritance .
I thought she was joking but she was deadly serious
And then she went to say “ It must cost you a fortune when you go away , you should stay at home more "

I'd make sure that your will made it clear she would inherit about £50, after those comments.
NONE of what you have is her inheritance at this moment, assuming you're alive as I type.
It's none of her business how much it costs you when you go away, or stay at home either! I'll bet her 'ideal holiday' isn't a stay at her home address one.

Better make it clear she's not in line to inherit much - if anything - when you die in case she tries to bump you off!

Sadly, I've seen first hand the way people behave when they think something is theirs by right, but it actually was bequested elsewhere. (and not to me!)

 

[scotzsue]

house is john's so no concern of mine, both my son's encourage me to do what i like with my money, get out and enjoy myself. I put them first when i was on my own, putting them through university and college forgoing my own opportunity to do a degree in the process, have never regretted it for a second.
the motorhome is jointly owned and willed to the survivor as we would like the other to carry on on their own.
There wont be much when ?i go apart from a lot of love.

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[nicholsong]

I never inherited anything other than a couple of thousand each from my Grandmother and then my Mother, but nothing from my Father, with whom I never lived, but I suppose he was making provision for his second wife.

This is not a gripe, but just stating what happened in my family. I have since made my own quite comfortable way in the world.

I have no offspring so the sort of discussions related above are of no relevance.

The majority of my inheritance will be for Basia, and at the moment we do not spend more than income, but were we to start spending capital it would be to the benefit of both of us, so we would be spending her bit now rather than she spending it later. She always says 'It is your money so do what you want with it.' - authority for a new Morelo Home methinks - if I could overcome my adversity to buying a new MH.

The comments in above posts are another eye-opener on family life, which I have avoided.

Geoff

 

[Otter Spotter]

In my working life I spent a lot of time doing ‘ Life Planning‘ with clients, it wasn’t just about the money and how much wealth they could generate, during this process a number of questions were asked, a sort of filter system to get clients to work out for themselves, what was most important, in many cases, they were happy to not go and spend spend spend but they wanted to leave a Legacy for their kids and grandkids.
I felt it was my job to help them get a balance between living their own life and providing that legacy, many couldn’t do it on their own.
In my own case my children know that I will help them as much as we can now whilst retired so we can hear them say ‘thanks’ occasionally and not wait until we are dead and cannot hear or see their smiles.

 

[pagey]

Oh I know the one you mean
It’s name escapes my memory begins with a “ D” I think

Yes dignitas

 

[Puddleduck]

My parents are both 91 and Dad is in a nursing home - paid for by the NHS as his care needs are so complex.

I have LPA for both care and finance for both parents and Mum never had much to do with investments but managed the day to day budget. Neither Mum nor Dad took the opportunity to do any tax planning when my grandmother died age 99. Grandma had been living with my parents for some years prior to her death and hardly spent a penny over the last 10 years of her life. Again no tax planning or thinking ahead so Mum and Dad received 1/3 each of the estate and my sister and I 1/6 each. To give an idea of the sums involved there was enough for me to pay off my mortgage and have enough money left over to pay the difference between the trade in of our old van and a brand new one.

Now I have looked at the amount of investments my parents have it was a shock. We will end up paying inheritance tax on the money left by my grandmother to my parents which is still intact and in two accounts, one belonging to my Mum and the other my Dad - this money has already been reduced by the inheritence tax paid on my grandmother's estate.

I wish Mum and Dad had spent more on themselves and not just various investments. They also refused to take ANY financial advice so there is a considerable sum of money in a 3 year bond which pays 0.025% I was fuming that Mum just renewed without any discussion (easiest path) - and that was when I enacted the LPA. I don't want her money (or Dad's) and if it does happen I will be passing lump sums down to my kids and changing my will to leave most of my estate to my Grandkids. The kids will have already had their share and they will be told what is what. I will take financial and legal advice before I do this but am pretty clear about what I want to do...... and I'll leave enough for us to enjoy our golden years.

My children all say to enjoy ourselves. Martin's family always says they will only leave fond memories and bad debts which could be the way to live

It sounds horrid and morbid but when my Mum and Dad do go (as we all must) we will be doing the round the world cruise we promised ourselves for our Golden Wedding Anniversary. It may have to be delayed by a year or three (or brought forward) but we will be doing it.

 

[busbuddy]

I bought my daughter a flat over a decade a go when my old endowment paid out, my partner has just upped her sons house deposit money so he can move out, I bought my partners daughter a more child friendly car when her kid was born last year. I've worked hard but tried to help those close to me even to the point I will be a poor oap
I have spent millions on drag racing (mostly sponsorship) so any hardship is my fault and there is no inheritance.
My partner owns her house which she will sell as soon as her son moves out this year, to buy a flat or full time we have not decided yet, I own my van and that's about it.
Everybody I care for knows it

My eldest brother is a millionaire and spends his time doing diy in his 3 children's houses that he bought them, each to their own

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