Do you think this is fair or absurd?

Question

I had an idea. I want to live in a particular area but can't afford the rent. I know when my parents pass on they will have a fair amount of money to leave to myself and siblings.

Do you think if I asked my parents to help me out pay my rent and leave me less money in their will? Or is that silly?

thanks for answers, I think I will abandon this idea.

Answer 1

Your parents money is theirs until the point at which they pass away. You cannot predict their need in the future. It's also a bit presumptous to assume you all will be left money.

As a parent I would be disappointed and feel that I failed in teaching and raising my child with the right value system and respect for me, my future and the correct view of financial responsibility. It seems society doesnt care about financial responsibility anymore.

Have you even considered what that will do to the relationship between yourself and your siblings?
Think about it.

I'd be more worried about my parents being proud of me working harder and smarter to live in the area I wish to live in, then to take the easy way out and ask someone else to subsidize the lifestyle I want.

While I hope to be able to leave my children properties, investments and maybe cash when I die, I would be shocked by their presumption.

Good Luck

Answer 2

Well the first problem with this is that just having the money won't qualify you for the place. You have to prove that you make at least three times the rent payment each month (four times in some stricter places), or else will have to have a qualified cosginer. Also, you don't mention if this fortune your parents are leaving you is in the form of savings or life insurance. If it's any less than about $30,000.00 in either circumstance then it's barely enough to bury them and pay for funeral arrangements; embalming, coroner, caskets, grave plots, tombstones, flowers, etc. That of course, assumes that they have no debt at all to be paid off like a house, car(s), credit cards, loans, etc. Plus that is so entirely disrespectful.

Answer 3

I think its a bad idea. Think about how they might feel. From their standpoint you are already thinking about how you might profit when they die! So you want some of your inheritance early, and on a regular basis (monthly rent). I suggest that you do not bring up the subject of an inheritance at all. When they are ready to discuss it with you, they will. Now if you and they would be comfortable discussing whether they might help you out with your rent, then ask them, tactfully, about it. But don't bring up the inheritance issue. It could really screw up your relationship with them. And remember, if they decline to help you with the rent, you can rent somewhere else. From what you describe, you simply would prefer to live in this high-rent area, but it isn't a necessity that you do so.

Answer 4

Depends on your relation with your parents! Some parents (like the Italian parents of my former roommate) have saved all their lives so that they can help their kids with things they can use to make their lives better. In my roommate's case, this meant a new piano so she could practice as a professional pianist, and a car so she could get to lessons and rehearsals. Getting these things was a tremendous boost so that her own life could be productive.

Other parents (like mine and others that I know) consider that their kids are on their own and shouldn't need to ask for stuff because that would make them dependent, and they should be making their own way. Once I had a great opportunity to buy a house and borrowed money from my parents, but I carefully paid back every cent as fast as I could.

So you need to consider both angles. How much do you need what you're considering asking for, and what's your parents' attitude towards your life?

Answer 5

It is very disrespectful to your parents and your siblings. It will also create problems during probate.

If you can't afford the area you have to either get a better job so that you can afford it or simply live within your means in an area you an afford.

You aer an adult now. Act like one. Adults do not get allowance.

Answer 6

I am a parent. I do not make alot of money, But when my daughter and son moved out and lived on their own I got
a second job just to help them pay rent. You yourself need
to find a place with reasonable pricies when renting. Because one day you will have to do it on your own. Never
depend on aN INHERITANCE to make your new life. that
politely to me is the wrong approach. Ask them for help and do not say anything about wills and death. It makes it derogatoy, and they probably will denie your request. don!!!

Answer 7

I just went to a seminar on that very subject yesterday. What about if you and your folks co=owned a home? They could take tax deductions for their part and you both are building equity for a later sale. Its a great solution of many people. Ask your parents if they would be interested then find a great realtor in your area and loan officer to work with.

Answer 8

Absurd!

Your parents money is theirs to do with as they wish. Who knows, they might burn through every single penny before they die. Or leave it all to the Audubon Society.They don't owe you a thing.

Not only is your idea is in very bad taste, it makes you a full fledged parasite. Please look up "entitlement" in the dictionary.

Answer 9

They'll probably conclude that you can't handle money and are destined to always have more bills than income. This probably means in turn that they should consider leaving you any money in a trust rather than directly.

Answer 10

there's no guarantee there will be any money for you inherit - they could get cancer or something and have to spend all their savings to pay medical bills - you shouldn't expect to recieve anything - parents are required to leave anything to their kids - they could donate it to charity or what they live to be 95 and just run out of money - live within your means. period - get a roommate, get a second job