I'm not a scientist nor exercise physiologist, but when people tell you it's hereditary, I think they are correct. I believe this because my body looks exactly like my mother's when she was my age. Fat deposits in exactly the same places eventhough I eat a much healthier diet than she ever did and I only weigh about half as much. How the body determines where to deposit the fat on the cellular level is its own mystery I'm afraid, or put another way, 'God only knows.'
One other answer I found googling 'love handles' that supports the hereditary theory brought up this: Fat forms from an imbalance in energy use and deposits itself according to your genetic mapping. How your body uses fat as energy is partly regulated by your genetic code. Within fat are two types of receptors called Alpha and Beta receptors (A receptor is like a door lock waiting for the right key to be inserted. In the body, hormones act like keys). Think of Alpha and Beta receptors as the brake and accelerator in your car. Alpha receptors tell fat cells to slow the release of fat while Beta receptors tell fat cells to dump their contents into the blood stream. Some areas of the body have more Alpha receptors than Beta receptors. So, you may tend to deposit more fat in the abdomen or hips than other places in your body because of your genetic mapping.