Originally Posted by
Mojo31
Wife and I started out without anything. If her mom dies soon, we will inherit a nice amount, but nothing life changing. Otherwise, she will consume it paying for elder care. My parents don't have much. Either way, I don't care as I'm good. I've always told my parents that the perfect estate plan is to spend your last dollar on your last day. The timing is the hard part though.
If something happened to both of us today, the kids would be in a very good financial position. However, I don't plan to enable that type of thing!
As for the wife and I, since we live in a community property state, what's hers is hers, what's mine is hers, and what's ours is hers.
I inherited money from my grandmother and my parents, but, except for taking an allowance for a few years when we were when were training, and our house purchases, we always lived on what we made and managed to put a decent amount away. Therefore, my goal is to pass on what I inherited more or less intact and duly inflated because I never felt that it was really mine to spend.
That said, my parents also did a lot for me and I I grew up with huge cultural and educational advantages and privileges, which very much put me where I am today.