Reply to Brother-in-law asked for $5k

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[quote=Anonymous][quote=Anonymous]My spouse (54 years old) mentioned that her brother (42 yrs old) asked for money. I (52 years old) said any amount up to $5k would be fine. She said her brother asked for $5k.

My brother-in-law is living in their parents’ house (my inlaws), and he has worked on and off in a call center and has worked as a receptionist and a telemarketer. He has three kids with his wife (divorced about 15 years ago). His wife cheated and got remarried and eventually received full custody of all the kids. My guess is that he is depressed.

We’ve always kept separate accounts (almost 30 years). She pays for the mortgage. I pay for utilities; car, housing, and health insurance; taxes; and HOA. We each fund the children’s college costs (State school). This $5k gift will not affect our kids’ college funds or our future retirement (I hope).
... ($4k) for a car instead. We said no.

I am nervous about the timing: we are both feds and it looks to be a scary right now. I know we can afford it but I am nervous.  The end result so far is that my spouse will give her brother the gift this weekend.

Would you do anything differently? [/quote]

Yes.  That's 5k less available for your own kids.  The issue is your nuclear family, your household income is not huge as feds,  you have 2 or more kids not in college.  Too young to drive so consider what costs will be when they can - insurance.   BIL lives with your inlaws.  Doubt you would be repaid and did he ever pay you back on the 4k?  [/quote]

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