Reply to Family wants to give $ for house down payment- WWYD?

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Reply to "Family wants to give $ for house down payment- WWYD?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Take the money and treat it as part of your inheritance.  It can be very satisfying to your parents to know they can help out while the are alive to see the impact of their $$.  Plus there can be tax advantages to giving you money slowly over years as opposed to a lump sum.  [/quote]

OP here, this my parent's intention. I assume their will would just say to deduct that amount once it came time to divide up their assets. [/quote]

H's parents did this for us and documented it so his sibling would get the same in the future. My parents also gave us money, but at the same time gifted my sibling the same amount as he was also buying a house.

My mom said she'd rather see us happily using the money now than after she's dead and has no idea what we did with it. As far as the ILs, they received substantial help in all their home purchases from MIL's parents. We received no help for our first home down payment and the help this time amounted to about 1/3 of our downpayment. [/quote]

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