cheryl
Administrator
Staff member
The impact of inheritance - Vox
A “great wealth transfer” may be on the horizon. Will a gift from grandma save the middle class?
Technically, Megan is a farming heiress.
Her mom grew up on a wheat farm, and for years, the government had been paying her family $15,000 a year to not farm. It was an attempt to keep land from being overused, and that money was basically the extent of Megan’s relationship with agriculture: the source of a yearly gift, the money she and her mom would wait for before, say, buying furniture or making home repairs. Now Megan, who asked to be referred to by a pseudonym to speak freely about her finances, receives that money directly.
In 2019, at the age of 64, Megan’s mother died. It was expected and unexpected. Her mom had been a cancer survivor for 20 years. But chemotherapy had damaged her heart, and two years ago, she went into cardiac arrest.
A “great wealth transfer” may be on the horizon. Will a gift from grandma save the middle class?
Technically, Megan is a farming heiress.
Her mom grew up on a wheat farm, and for years, the government had been paying her family $15,000 a year to not farm. It was an attempt to keep land from being overused, and that money was basically the extent of Megan’s relationship with agriculture: the source of a yearly gift, the money she and her mom would wait for before, say, buying furniture or making home repairs. Now Megan, who asked to be referred to by a pseudonym to speak freely about her finances, receives that money directly.
In 2019, at the age of 64, Megan’s mother died. It was expected and unexpected. Her mom had been a cancer survivor for 20 years. But chemotherapy had damaged her heart, and two years ago, she went into cardiac arrest.