Negative Inheritance
"Negative inheritance" is described here by Andrew Hook of Oast & Hook on the GeriLaw Blog.
Negative inheritance is the result of children spending more time and money caring for their aging parents than they receive in their inheritance. Thus, they receive a so called "negative" inheritance from their parents. The practical result of this process should be recognized.
Anticipating the added financial and emotional burden on children is the first step to doing proper planning to alleviate and reduce the real and sometimes devastaing burden on children. We should do everything we can to appropriately help.
Beyond the practical recognition of this problem, and the light it casts on a true problem, I dislike the term "negative" inheritance. I believe that it demeans the legacy of loving parents. Similarly, it diminishes the return of love by children. Caring for parents is a labor of love.
Inheritances are not a right. Everything wrong with this term begins with the underlying premise that we should expect a financial inheritance from our parents.
The true inheritance of every child should be the love of a parent. I see no better sign of the inheritance of love, than the love reflected in the childrens' care for their parents. That does not create a "negative" inheritance. These families have the best inheritance possible, love.
