When it comes to sharing inheritance, Gen Z was found to be the least willing to redistribute wealth among family members who didn’t get their fair share. Since almost half of the generation struggles to cover their bills, they feel more wary about splitting their bequeathed estate further.
Just like this woman, who, after turning 18, received a sizable sum and properties from her grandparents but strictly refused to share them with her struggling family. After being treated poorly by them her whole life, she was set on finally enjoying her freedom and not wasting it away.
Younger people are more doubtful about sharing their inherited wealth with family members
Image credits: Tima Miroshnichenko / Pexels (not the actual photo)
This 18-year-old also refused to split the sizable inheritance with her family because they always treated her poorly
Image credits: Nataliya Vaitkevich / Pexels (not the actual photo)
Image credits: Liza Summer / Pexels (not the actual photo)
Image credits: CountTimely3205
Image credits: Tima Miroshnichenko / Pexels (not the actual photo)
A beneficiary is not legally required to split inherited wealth with others
Just over 50% of Gen Z, aged between 18 and 24, supported the idea of sharing inheritance with family. The figure was closer to 60% for every other age group.
In almost every instance, a beneficiary is not legally required to split inherited wealth with others. However, whatever financial move they make, it can be hard not to receive an emotional reaction if the family feels that the wealth was distributed unfairly.
In a previous article, personal finance expert Rick Orford, the author of ‘The Financially Independent Millennial, said, “Money is the root of all evil, and considering many live paycheck to paycheck, it makes sense some will bark if they feel left out. If the beneficiary doesn’t want to share, it’s their prerogative, but remember that it could impact the relationship,” he explained.
Dealing with a close relative who feels let down or disappointed with their share of the estate can be challenging. However, to successfully navigate such tense situations, the beneficiary must draw and maintain emotional and financial boundaries.
Image credits: Karolina Kaboompics / Pexels (not the actual photo)
“The windfall of inherited wealth often comes with feelings of guilt and elation, isolation and confusion”
Such difficult family dynamics often leave the beneficiary feeling guilty about their acquired wealth. They may start doubting the reasons why they inherited the estate, feel like the amount of money they received was undeserved, and even contemplate giving it away.
Amy Zehnder, a strategic wealth coach, says, “The windfall of inherited wealth often comes with feelings of guilt and elation, isolation and confusion. No wonder; when the financial gain is due to the loss of a loved one’s life, it feels crass to be excited about the opportunities an inheritance affords.”
What might help combat such feelings is to recognize your family’s hard work and use the inheritance to leave a positive impact on their legacy and personal fulfillment. Whether that’s by pursuing education, starting a business, or supporting charitable causes, it can be used as a tool to contribute to those who are dear to you.
It’s important to keep in mind that deciding what to do with the inherited wealth shouldn’t be rushed, especially considering the conflicting emotions one is going through. At some point, it will start to feel like it’s time to move on, whether that takes weeks, months, or years. In the meantime, it might be best to put the money into a bank account until the beneficiary figures out what to do with it. Taking things slowly prevents one from making rash decisions that one might regret later.
The author addressed some confusion in the comments
Most readers were on the original poster’s side
Meanwhile, the minority thought she should’ve helped the family
The post “AITA For Refusing To Share My Inheritance With The Rest Of My Family?” first appeared on Bored Panda.
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