You may be confident that your parents would never give away your inheritance as you would kill them, but your childless uncles and aunts can’t be trusted. They have a long history of leaving their money to some chancer and then dying before their rightful relative (you) finds out.
Such uncles and aunts can be needy, but my advice is to allow them to pass away quietly and unexpectedly, without revealing their true wealth to you. This will allow you to humbly accept any windfall that may come your way and make it far easier to bear your loss should their charitable intent get the better of them.
If through a moral sense of duty you feel compelled to help your uncle or aunt in their hour (or sometimes years) of need then here are three things you should know:
1. As the years pass and the odds narrow it is human nature to feel an irresistible pang of expectation that the money will be left to you. This is nothing to be ashamed of but it is best to keep it to yourself.
2. Hints or outright promises that they will see you right in their Will should be ignored. Usually such hints and promises create no legal obligation which is just as well as you may not be the only recipient.
3. Find out if you are eligible to inherit as the nearest surviving relative under the law of intestacy. If so, a will is not necessary. It serves as an opportunity for your relative to leave your inheritance to a charity, or other person who could waste it.
There are good citizens who after a lifetime of hard work decide to give it all away. They are to be admired provided that you are not related to them, and they are not using your inheritance to demonstrate their generous spirit.
© Paul.Brennan 2014. All rights reserved.
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