Don't take inheritance for granted

  • Article by: BILL WARD , Star Tribune
  • Updated: July 23, 2012 - 10:39 AM

Economic jolts, health care costs and longevity have created a new kind of estate planning: making sure Mom and Dad have enough for themselves.

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mowjo1Jul. 15, 12 7:10 AM

"Longevity is the new reality," said Kim Brown, "When we do plans for people, we do them to age 95". More and more people are realizing that retiring at 55 to 62 just isn't financially feasible. More and more people are working until full SSA retirement age which is now 66 and older. It's the new reality.

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ddellwoJul. 15, 12 8:53 AM

I tell my mom that any money she leaves me as an inheritence I will spend on something she doesn't approve of, so she'd better spend it on herself while she's here!

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pitythefoolsJul. 15, 12 1:43 PM

My parents are both in assisted living. They both have union pensions, employer-provided retirement health care, social security, medicare and now that the savings are gone Medicaid. All things they worked for and payed into their entire careers. I have no pension, no employer provided retirement health care, and the Republicans want to demolish the social security, medicare and medicaid that I have paid into my entire working life. So all my generation has is our 401(k)'s. Sorry kids, but there won't be any inheritance.

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