Questions tagged [family]
For questions relating to personal finance issues within families, e.g. parental benefits, marital finances, cost-sharing, etc.
102
questions
28
votes
10
answers
9k
views
Do you lose money if you don't use a plane ticket you won in a raffle?
My wife won 2 tickets from a major airline at the company she works for, after they did a employee only raffle that was free to enter. The problem: there is a caveat: the ticket must be booked for a ...
- 383
2
votes
1
answer
2k
views
Helping family member with complex rental property situation
My grandmother died 10 years ago, leaving her small house in a purely verbal will to my sister. My sister is a "poor musician" and could use the property for rental.
However, the will was ...
- 489
17
votes
2
answers
4k
views
What is the best way to loan money to a family member until CD matures?
My family member has a $37,000 Certificate of Deposit that matures in December. She had planned to buy a house in January and use this money as part of her down payment.
Recently she has an ...
- 273
13
votes
4
answers
9k
views
Joint owned property 50% each. Can 50% rent be charged?
My sister has lived in a property that was passed to us both in our parents' will. She has never offered to pay any rent in a mortgage-free house with her and her three children.
This has been going ...
- 131
1
vote
0
answers
68
views
Starting a family fund, owned by a parent company?
first post here.
I have been doing some research, but I am still not 100% sure on this. A little background: I live in NY state, have a Bachelors Degree in finance and data analytics.
My situation: I ...
1
vote
0
answers
95
views
Family Member Broker - Managing Mother's Investment
My niece works for a securities firm as registered broker, (not CFP) - her mother, my sister, inherited a large sum of money and will be investing 100% of her funds with her daughters business. Is ...
- 11
1
vote
0
answers
128
views
How much is a child's income allowed to benefit their parents? [closed]
Let's say you are an ordinary family, and one of your young children is lucky enough to be cast in a huge blockbuster movie franchise, for which they are paid many millions of dollars.
The income is ...
- 33.8k
0
votes
1
answer
196
views
Is a delayed investment a valid agreement among family?
Our family is currently in a bit of dispute over the future of my mother's home (she is still living).
I apologize if my explanation here is more complicated than it needs to be; I have simplified the ...
- 101
3
votes
1
answer
435
views
Can I avoid gift tax by gifting only a portion of a home to a parent instead of the whole value?
I live in Washington state and my mother lives near my brother in California. I was considering purchasing a house with cash, for her to live in. The cost of the house would likely be around $600,...
- 121
6
votes
2
answers
2k
views
How to write down each month borrowing over past month
Since Pandemic I had lost my job and borrowed money or money sent by my parents from saving but I couldn't write it down as I am financially illiterate/bad with maths. Now and in past, it has caused ...
- 595
1
vote
2
answers
291
views
Setting up a corporation for family finances
Jurisdiction: Canada
Could I set up a private business corporation in Canada to handle my family finances (eg. pay rent, car repairs, even groceries). What are the ramifications? Why doesn't everyone ...
- 147
2
votes
2
answers
471
views
What is the gift tax rate in Germany if I give my cousins money?
I would like to give a large amount of cash, about $75,000, to a cousin in Germany. What tax rate would they have for such a gift?
- 21
1
vote
1
answer
419
views
Washington Resident Purchasing Home in California
I was formerly a resident of California (before 2019). I still have family there. Now I was considering purchasing a home in California, that my mother would live in. My mother is almost 70 and ...
- 121
2
votes
1
answer
153
views
Wife created her own SNAP/EBT (Kentucky) case while on my mother-in-laws case, can this really lead to an investigation?
I'm not overly familiar with SNAP/EBT policies, my girlfriend and daughter were on my mother in law's case(we live on the same property) but after a disagreement my wife called and removed herself ...
0
votes
0
answers
87
views
My parents live in England. I live and file taxes in the US. I want to make them an interest free loan to buy a house. Payable at death / house sale
I considered purchasing it as joint tenants in common but that triggers stamp duty on the entire purchase as I’m a non UK resident. I thought they may be able to amend their will to represent the ...
- 1