Reply to 3 savings accounts for DC, why would GP want to open another one?

Forum Index » Money and Finances

Reply to "3 savings accounts for DC, why would GP want to open another one?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]DC is a baby, the checking account was opened with the savings. I hear you all about it being their money. I do. [b]It's just, my folks paid for my college, which seems nice, and it is. They just keep telling me that I owe them now. Like they now own me.[/b] And I don't want that hanging over DCs head. Is rather everyone just put money into one account and not feel like one set of GP gave more or whatever... But I'm probably bring stubborn. Sorry.[/quote]

This is the very reason you don't want them to mix THEIR MONEY WITH YOURS. If they want to act an ass later on, you don't have to worry about going into YOUR account to get THEIR money out and give it back to them. It's their account they can save in it, withdraw from it, give it to Yoda if they want. YOU DON'T HAVE TO WORRY ABOUT IT!!![/quote]

I would look at it the opposite way. If they GIVE money to OP to use for the grandkids, at that point they no longer control it - it's a gift and it loses its identity when co-mingled with all OP's other assets or the GKs assets. However, if they want a distinct account that they control (esp a bank account, not a 529), they aren't really giving anything, because they retain control - they are merely say "here is some money we might give your kid if he/she/you do xxx". Separate accounts allow they to expert control. That's fine - it's their money - but that's different than a gift and far less helpful.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics