family is ridiculous?

Question

ok... out of all my family, we're the poorest. Mom's a lawyer and dad's a surgeon. they make a pretty penny. here's the deal... my grandparents (mom's side) want go give all their money to charity when they die. my mom and her 2 sisters, (both are more wealthy) want inheritances. i for one think they're being ridiculous! I know our income and we don't need anything. we live in one of the nicest houses in town and my car's the crappy one. It's a 2005 Mazda Rx8. In high school i was voted best car. I know that we're rich and really don't need any money. no one else in my family agrees with me. i think it's best that my grandparents sell everything (with the exception of heirlooms) and give it all to charity. They're somewhat wealthy, but nothing like us. they have their the funerals paid for so we'll have few bills left over when they're both gone, just normal electric and cable, stuff like that. I'd estimate their savings and house is all worth over 500k. does anyone else agree with me?

to answer heather, we're the poorest ones in the family. dad's an only child and both his parents are dead. my other 2 aunts (and their husbands) are more wealthy than us. no one in my family needs the money. If they gave it all to me, it'd go in the bank and pay for med school when I go in 2 years.

Answer 1

Yes, you seem to have your head on straight--its not all about money. However, ask yourself how you would feel later on in life if your parents decided to give all of their money to charity (or worse--the cats!) instead of you and your siblings. I think that would bother me some. I suppose you should just stay out of it b/c really it doesn't directly concern you. If you really believe in charity than I suggest you put your money where your mouth is and volunteer...also, plan on going to school and getting your education so that you can be well off like your family, or else get used to the middle-class way of life when you get older.

Answer 2

As a previous responder wrote, it is the grantors' (your grandparents') decision as to what they want to do with their estate, and I applaud you for supporting them. Also, any bills your grandparents have left over will be paid from the estate prior to the balance being given to charity; so no one in your family will be out of pocket any money when they die.

Inheritances can do strange things to people, hence your mother and aunts wanting a piece of a relatively small estate even though they are all well off without it. A good friend of mine was very close to his two siblings until their parents died. The parents were very wealthy and left everything to their three children, none of whom is speaking to the rest over disagreements concerning the estate. My friend's comment to me during the whole mess was, "You're lucky you're an only child."

You sound like you've got your priorities straight, which is the most important thing.

Answer 3

Your grandparents (presumably) EARNED their money. The have the right to do whatever they want with it. Even if the grandparents are wealthy and the 'heirs' are all broke, they don't have a 'right' to an inheritance. If I understand the question correctly, that means I agree with you.

PS It is possible to have a high income and be broke. All you have to do is spend and even higher income.

Answer 4

Maybe the rest of your family isn't as well of as you, did you ever really think of that. Yeah charity is nice, I give myself. But if your other relatives need the money to help them, then thats what should be done.

Answer 5

you are right - and do not let any one change your mind -- they made the money and let them do with it what the please-- i live in a small town with a very poor stock library and my family is going to be shock when they find out my money is going to the library == some are spending the money all ready (as if they all ready had it) and it really makes me happy -- just like to be here and see the look on their faces!!!

Answer 6

I do, supporting your grandparents wishes is a good thing, recognizing that you don't need more money is even better.

Answer 7

It does not matter what the children want. The grantor makes the decisions of what to give to whom. I say it they earned it, they deserve to give it away.