Americans Are Counting on an Inheritance Instead of Saving--but Family Homes Could be a Complication

[Yo_Mama_Been_Loggin]

In what’s being described as the Great Wealth Transfer, economists project that more than $100 trillion of wealth will pass from the baby boomer generation to their children over the next 25 years.

As of today, an overwhelming majority (66%) of Americans expect—or already have received—an inheritance from their parents, according to a new survey from Choice Mutual.

And that is having a profound effect on saving habits: Nearly 1 in 10 Americans feels less pressure to save because they expect to inherit money, the same survey found. But counting on an inheritance is a fragile strategy, especially when part of it is wrapped up in a family home.

Though baby boomers hold an estimated $18 trillion to $19 trillion of real estate wealth, health care costs, long-term care, overhead expenses, and tangled titles can shrink or erase what’s passed down. If you’re planning to inherit a family home, here’s what to know about protecting what’s often a family’s greatest asset.

https://www.yahoo.com/lifestyle/articles/americans-counting-inheritance-instead-saving-100000472.html

[msongs]

1. the grubs who criticize boomers will happily grab the inheritance nt

[BigmanPigman]

2. Americans rarely look at their future financial situations.

Americans who believe they will inherit everything from the sale of a home have their heads in the sand. Nursing homes and live-in health care will eat all of the money they have saved.

[cilla4progress]

3. No one's ever going to get ahead here as was once possible,

the way it's going.