Do you give a gift when your son or daughter gets engaged?

[Anonymous]

Anonymous wrote:What's customary among upper middle class?

Yes something small and useful. Like you’d give at a shower. Or wait for the shower.

[Anonymous]

Anonymous wrote:We threw them an engagement party.

This.

We did 20-40 person lunch or dinners in each hometown or heritage town.

[Anonymous]

Anonymous wrote:My 25 years old DS recently got engaged and we paid off his wife 100K student loan. We also gave them 750K for a 50% down payment on a home. That was our gift to them.

Why a 50% down payment, they can’t get a super jumbo loan?

25 yo and going straight to a $1.5m property?

Is this in the east coast and they have terminal degrees or are you in the south where no one moves or is mobile in their 20s?

[Anonymous]

Anonymous wrote:My 25 years old DS recently got engaged and we paid off his wife 100K student loan. We also gave them 750K for a 50% down payment on a home. That was our gift to them.

Enjoy your tax problem with that!

[Anonymous]

Anonymous wrote:And a wedding.

lol. This.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My 25 years old DS recently got engaged and we paid off his wife 100K student loan. We also gave them 750K for a 50% down payment on a home. That was our gift to them.

Enjoy your tax problem with that!

Always happy to see someone is aware of this.

—a tax litigator

[Anonymous]

Anonymous wrote:

Anonymous wrote:My 25 years old DS recently got engaged and we paid off his wife 100K student loan. We also gave them 750K for a 50% down payment on a home. That was our gift to them.

Too young in these times for a male to be getting married. I hope you have money set as side for their divorce.

Anyone above 18 can drive vehicles on high speed, buy assault rifles, vote for nation's leaders, take large loans, become emergency tech/firefighter/cop/solider to risk their own and be responsible for other lives, operate heavy machinery and explosives, do drugs, give consent to donate organs, buy property, travel to far away countries, have sex, give birth, change gender etc etc.

No one above 20 and below 40 is too young or old to marry. Its just about personal preference, circumstances, culture and finances.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No gift, just a fat cheque

Check now cheque. What it is about elites and their need to be someone they are not?

I'm far from elite, just a Canadian.

[Anonymous]

https://en.m.wikipedia.org/wiki/Age_of_candidacy_laws_in_the_United_States

[Anonymous]

You need to be 18 to run for governor of California.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My 25 years old DS recently got engaged and we paid off his wife 100K student loan. We also gave them 750K for a 50% down payment on a home. That was our gift to them.

Enjoy your tax problem with that!

Always happy to see someone is aware of this.

—a tax litigator

Why is this a tax problem? Don't they just have to count it towards their lifetime exemption?

[Anonymous]

Anonymous wrote:

Anonymous wrote:My 25 years old DS recently got engaged and we paid off his wife 100K student loan. We also gave them 750K for a 50% down payment on a home. That was our gift to them.

Enjoy your tax problem with that!

? They have to report it. It's not taxable unless you hit the lifetime max

[Anonymous]

An individual must be 16 years old to solo an aircraft, 17 years old to obtain a Private Pilot Certificate, 18 years old to obtain a Commercial Pilot Certificate and 23 years old to obtain an Airline Transport Certificate.

[Anonymous]

We paid for a $90k wedding. Seemed like enough.

[Anonymous]

My favorite engagement gift is a nice bottle of champagne. If you think they need it, give them champagne flutes too (at least a pair).