Everybody Has A Secret podcast hosts Ruby Hall and Miranda Davidson received the inheritance confession. (Source: TikTok/@ehaspodcast)
An Aussie woman has shared her confusion after she failed to receive an annual $30,000 cheque from her “rich” grandma. The inheritance confession has sparked debate about whether you are actually owed money from your well-off relatives.
The woman wrote into the popular Everybody Has a Secret podcast for advice. While she comes from a “middle-class family”, she shared that her grandparents were “very rich” and had worked hard to become the multi-millionaires they are today.
“The money never trickled down to their children and no one really thought twice about it. It’s their money, not ours, and we’re all doing well for ourselves,” she explained.
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That all changed when the woman’s grandfather died and a little after his funeral, the woman’s parents told her to visit her grandma more regularly. When she did go visit, she was met with a huge surprise.
“She presented me with a cheque of $30,000. I went into complete shock. I cried and thanked her for how this had changed my entire year,” she shared.
“A year later, the same thing happened. I was summoned to her home and given another $30,000.”
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But cut to this year and the woman said she was “taken aback” when she visited her grandma and received no cheque. She shared her grandma’s health had been declining and she didn’t seem like her regular self.
When the woman asked her mum about it, she revealed she wouldn’t be receiving a $30,000 cheque again this year because the grandma thinks she “didn’t act to suit her this year”.
“We all know she’s on her way out with millions sitting in the bank so none of it really makes sense,” the listener said.
“The idea that we haven’t behaved correctly is a bit confusing. My parents visit her frequently. All of us grandkids are married with great-grandkids. We’ve all worked hard and become successful in our own right.”
The woman said she knew the dilemma sounded “a bit pathetic”, but hoped to get advice on the “bizarre” situation and how she should move forward with her grandma.
Hosts of the Shameless podcast Ruby Hall, Charlotte White, and guest host Miranda Davidson, agreed the woman wasn’t automatically owed the yearly cheques just because she had received them previously.
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“No, you’re not owed anything. However, the pattern recognition that would happen, it’s like, I’m going to see Granny again,” White said.
Davidson agreed the situation was a bit “bizarre”, but ultimately she wasn’t entitled to receive the cash each year.
“You never had this money to begin with, so it’s been a nice bonus. So you’re not losing what you didn’t know you already have,” she said.
Davidson recommended the woman not raise the issue with her grandma, but instead up her visits and try to actually foster a relationship with her grandma.
A video of the dilemma was shared on social media, with most people agreeing the woman wasn’t entitled to the cash.
“That’s your grandparent — you should be visiting her because she’s family. Not because you are expecting money,” one said.
“You shouldn’t expect ANYTHING,” another said.
“She’s not punishing you, she’s just not giving you the 30k you’re expecting,” a third added.
Others shared they hadn’t received any inheritance from their grandparents, so the woman was “lucky” to get anything and to have time with her grandma.
It comes ahead of a major inheritance transfer coming for younger generations.
The Productivity Commission estimated that $3.5 trillion would be passed on from Aussies aged 60 and over by 2050, while more recent JBWere figures have put that figure at a staggering $5.4 trillion over the next 20 years.
A Finder survey of 1,017 people last year revealed 41 per cent of people were anticipating receiving an inheritance.
One in 10 said they were depending on an inheritance to achieve major financial goals like buying a house or retiring, while nearly one in five anticipated it would significantly improve their financial situation but they weren’t depending on it.
Finder personal finance expert Sarah Megginson warned Aussies not to put all their eggs in the inheritance basket.
“Many people are surprised after a loved one passes away to discover their financial situation is not what they expected, or that assets have been left to other people,” she said.
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