My Parents Gave Us $30,000 for Our Daughter's Education. I Can't Believe How My Husband Wants to Spend It.
Briefly

My Parents Gave Us $30,000 for Our Daughter's Education. I Can't Believe How My Husband Wants to Spend It.
"There are so many things to say, but let's start with the simplest: No. Not "maybe," not "let's discuss"-absolutely not! And frankly, your husband asking you to raid your daughter's education fund to bail out his brother (who assaulted a cop while driving drunk with a suspended license) is outrageous. He (and his extended family) needs to understand that this money isn't yours to give."
"(I wonder if your parents had an inkling this might happen, and that's why they placed the money into a trust rather than a 529 account or some other investment that could be more easily liquidated. If so, good on them.) Your parents gifted it specifically for her future, not to fund your brother-in-law's bail after his third (fourth? fifth?) legal disaster."
The mother controls a $30,000 trust gifted by her parents for her two-year-old daughter's education. The brother-in-law assaulted a police officer during an arrest for drunk driving with a suspended license and now needs $15,000 for bail. The husband and his family are pressuring the mother to use the trust funds for bail despite a prior $5,000 unpaid loan to the brother-in-law. The trust restricts use to the child's education and likely prevents easy liquidation. Using the funds for bail would violate the gift's purpose and jeopardize the child's future. A firm refusal is appropriate to protect the trust and prevent further financial enabling.
Read at Slate Magazine
Unable to calculate read time
[
|
]