you make the best living that you can, provide for your family, save up cash for a rainy day, and then divide up your estate when you are finished breathing (and talking and eating and laughing and – well, you get the picture). So your heirs receive whatever you had left over when you died. You have just been gifted from the dead. However, your parent lived to the ripe old age of 90 years, and that makes you 70 years of age.
What might have happened if your parent had gifted you a few bucks now and then when you were say, 30 or 35 or even 40 years of age? Maybe you would have started a business with the gift, retired at 50, and spent a ton of time with your family for the rest of your natural life!!! Wow, what a shame that would be – but don’t worry because your parent will most likely wait until they can’t write a check (because they’re dead) to write the check. You’ll be at the age where you’re likely to do the very same thing they did. You will gift when you expire.