My in-laws are aging and it's definitely starting to show. Their finances are solid, but not spectacular (I pay their bills, help with investments, etc.). They both have generous LTC policies and solid health care coverage via Medicare/Tricare/Supplement.
They approached us about starting to provide us annual cash gifts up to the maximum exclusion of $18k with the thinking that DS (only child) will get it all eventually any way.
I am struggling with accepting the gift because I am firmly of the belief that it is THEIR money. While it is unlikely that they would run out at the end of their lives, the remote possibility exists.
Anyone else been in a position of a family member offering an annual five figure gift to you?
The money would certainly be welcome and there are home improvement projects in the pipeline that I have budgeted for which could be knocked out quicker, but for some reason accepting this seems wrong to me. I'm not sure why this is a moral dilemma for me.
They approached us about starting to provide us annual cash gifts up to the maximum exclusion of $18k with the thinking that DS (only child) will get it all eventually any way.
I am struggling with accepting the gift because I am firmly of the belief that it is THEIR money. While it is unlikely that they would run out at the end of their lives, the remote possibility exists.
Anyone else been in a position of a family member offering an annual five figure gift to you?
The money would certainly be welcome and there are home improvement projects in the pipeline that I have budgeted for which could be knocked out quicker, but for some reason accepting this seems wrong to me. I'm not sure why this is a moral dilemma for me.
Statistics: Posted by id0ntkn0wjack — Sat May 18, 2024 2:43 pm — Replies 7 — Views 491