Inheritance

What are some of the things that you've inherited over the years?

The fact that so few Americans expect to inherit money from relatives -- and that most expect to get just $10,000-50,000 -- has big implications for their retirement plans.

Economist Diane Lim offers callers advice about family loans, inheritance, and helping your parents deal with their finances.

Here's a conversation that might prove tricky: a young adult who tells her parents that she plans on giving away her inheritance.

It may sound crazy, but a group of wealthy young people is giving their inheritance money away.

My boyfriend and I both currently work full-time and are in school. He's working toward an associate degree and I'm working on a master's. When we both finish, in the spring of 2014, we'll be qualified for much better-paying jobs. We're also planning on getting married between now and then and starting a family once one or both of us has found new employment. We weren't planning to buy a home any time soon, but I recently inherited $40,000. My question is, how do you know that you're ready to take the plunge? Leah, Ypsilanti, MI

What would you do if you came into a family inheritance after years of accruing debt and working minimum-wage Jobs?

I will receive $25,000 in the next couple weeks from the sale of my mom's house. She died suddenly of a brain aneurysm last spring, at age 58. I am asking for advice on how to invest this small windfall. (I also received another $10,000 from her life insurance last year and used that to pay down a personal bank loan of $6k and credit card debt.) Here are my stats: I'm 36 and went back to college in 2010 to finish my first degree (I had worked in insurance and kept hitting income/advancement ceilings due to not having a degree.) As of May, I will graduate with $45,000 of loans. I have $7,000 in credit card debt and own a house with a $130,000 left on the mortgage. I do have $10,000 in a 401k at a previous employer and I also inherited her 2009 car, so I have no car payment. I realize paying down debt is the fastest return on the money, but I feel like I don't want to just sink this money entirely into student loans, which have a low interest rate. My plan is to pay off the credit card debt and create a small emergency fund. This will leave around $15,000. Would it work to place some of it in longer term investments or just completely add the money to my debt? To add complication to the situation. I am studying graphic design and the firms I am in touch with all say they have increased hiring and the future looks good for this career. However, there is the option that I may want to free-lance or split off on my own in two to four years and could use a cushion to help as a startup. Thank you for any advice or information. Jamie, Eden Prairie, MN

Reporter Mitchell Hartman discusses the need for Marketplace's new Wealth & Poverty desk.