Grandparents Did Good!

[mjarrels]

My son turns 21 in two weeks and always knew he has something coming from the family trust and started asking me how much? I didn't know, so I asked my little sister who manages the trust yesterday... I was shocked... about $50,000 dollars! My days of paying College tuition are over now! I should have known something was up when I had to pay taxes on my daughers $1800.00 interest income last year and she has never had a job (she is 16). I guess when she turns 21, she will probably get about $60,000 bucks! Mom and Dad did things right for the grandkids... God bless them!

mark

 

[jinman]

Sounds to me like your parents not only did a good deed for their grandchildren, but they also did a good deed for you.

 

[EddieWalker]

Very nice to hear of your good fortune and how amazing your parents are.
Congratulations.

Eddie

 

[AlanB]

Nice! Congratulations.

 

[wjoerob]

Just hope he has the sense to use that 50 grand in a wise way, maybe invest or save some of it. I'm not sure it would have been doing me any favors at age 21 to drop that much in my lap...

 

[marimus]

And don't forget to thank your little sister for managing it so well

 

[bigtiller]

That was a wonderful thing your folks did for there grand kids! Have you given any thought to extending the gift and rolling it over into a retirement account for the kids?

 

[Flatheadyoungin]

good for your family and that's great your parents managed their money wisely...

someone made the comment about the WWII generation leaving inheritances to their children...made me think of my wife's grandfather that just passed away..

this man saved money, handled his wisely and handled (executitor of will for many) other's money wisely.....he had quite a bit of money when he passed a few weeks ago......however, both of his kids (my father-in-law and his sister) have spent and spent......he has bailed them out numerous times.....and they've already counted their inheritance and i'm sure it's spent (credit card debt, TVs, cars, bars, etc) before they even get it.......

i certainly don't expect to get anything but it's a real shame that he was so wise and all of that sacrifice will be out the window......he should have blown it on himself and his wife.......

funny how things change from generation to generation....

 

[mjarrels]

I actually got a couple thousand dollars when my grandparents passed away in the late 70's... don't remember what I did with the money?

mark

 

[YesDeere]

Thats true love. My Great Grandparents did the same thing for me when I was born. I may have failed out of college after one year but college wasn't for me. I used the money to go to two years of trade school and buy a pile of snap on tools. End result the same: I can support myself and have a good life doing it!

 

[scott_vt]

I actually got a couple thousand dollars when my grandparents passed away in the late 70's... don't remember what I did with the money?

mark

Good Evenin Mark,
Glad to hear that your kids did well ! I can only hope that I have enough money to do the same for my grandkids, gosh I think they will probablly need it by then !