Forums
New posts
Search forums
What's new
New posts
New profile posts
Latest activity
Internet Search
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Forums
Parent Support Forums
Parent Emeritus
Money owed to daughter
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="GoingNorth" data-source="post: 726164" data-attributes="member: 1963"><p>Ugh. Well, irresponsible though she may be, it IS her money, ethically and legally.</p><p></p><p>You were more than generous with your daughter as others have said. That said, gifting children with the down payment on a house, or in the old days, on agricultural land, has been going on as long as mortgages have existed.</p><p></p><p>I found out my parents had been buying bonds for me from the time of my birth, and that husband's parent's had been doing the same, when it came time for us to buy our house. Made a nice down payment and $$$ for needed repairs.</p><p></p><p>Note to others ***if you are cashing in a couple of shoeboxes full of savings bonds, call the bank and make an appointment. The banker we dealt with nearly had a heart attack when she saw us and our collection of bonds, some mature and some not. There's a lot of paperwork and calculations involved.</p><p></p><p>I wouldn't recommend gov't savings bonds these days, but I do agree with those who recommend getting your daughter to sit down with a financial counselor to map out a plan for the remaining money, especially if it's enough to pay a noticeable dividend. Say...enough to cover utilities or a car payment.</p></blockquote><p></p>
[QUOTE="GoingNorth, post: 726164, member: 1963"] Ugh. Well, irresponsible though she may be, it IS her money, ethically and legally. You were more than generous with your daughter as others have said. That said, gifting children with the down payment on a house, or in the old days, on agricultural land, has been going on as long as mortgages have existed. I found out my parents had been buying bonds for me from the time of my birth, and that husband's parent's had been doing the same, when it came time for us to buy our house. Made a nice down payment and $$$ for needed repairs. Note to others ***if you are cashing in a couple of shoeboxes full of savings bonds, call the bank and make an appointment. The banker we dealt with nearly had a heart attack when she saw us and our collection of bonds, some mature and some not. There's a lot of paperwork and calculations involved. I wouldn't recommend gov't savings bonds these days, but I do agree with those who recommend getting your daughter to sit down with a financial counselor to map out a plan for the remaining money, especially if it's enough to pay a noticeable dividend. Say...enough to cover utilities or a car payment. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Parent Support Forums
Parent Emeritus
Money owed to daughter
Top