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Adult Children
Reply to "college children and money"
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[quote=Anonymous][quote=Anonymous]My DS #1 attends USC at 90K/yr (full pay) and DS #2 attends UCLA on an athletic scholarship as a recruited athlete. Each son has 350K in education fund for undergrad and 200K for grad school. DS #2 feels that because he works hard to get the athletic scholarship, he is entitled to the 350K after graduation, and he wants me to aggressively invest his 350K so that he will have a lot of more than 350K upon graduation. DW wants to split that 350K between two boys and DS #2 is not happy with that and it is causing turmoil between DS #2 and DW. They haven't talked to each other in almost three months. I happen to agree with DS #2 because they both should be treated the same way. Not sure how I am going to resolve this. Thoughts?[/quote] He shouldn't get the money before graduation. Or at least get the portion of the year that he finishes. It seems that you are well off enough that it’s a matter of principle and not finances. Explain to number 2 that you need to supervise that money until a certain age, let’s say 25, and only if you think he has a lot of maturing to do, but then treat them equally. Now if these funds are necessary for youc , depending on your particular situation, it could be a totally different story. [/quote]
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