Reply to DS14 said something very rude and ungrateful during the holidays and I still don’t know if we handle it well

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Reply to "DS14 said something very rude and ungrateful during the holidays and I still don’t know if we handle it well "

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I honestly don't understand why everyone is giving mom & dad a pass.

The 529 contribution is a gift to THEM!

They are angry because they think FIL will stop giving THEM money.

The parents have apparently made it clear to the kid over-and-over that FIL gives THEM $$$s every year that goes into a college account.  Why have they mentioned this?  Because they are so fearful the money train will end.

Kid was rude, OP said he apologized already.  The only reason OP is making this such a huge deal is because of the $$$s.[/quote]

I disagree in this case. A 529 is a gift to the son and the siblings, not just to the parents. Money is fungible and it allows the whole family to use their resources efficiently to meet needs and wants. OP’s son is obviously benefitting from his parent’s financial resources. If the kids were living a frugal life and OP and her husband were keeping their own money for themselves, I’d feel differently. Now $35k in 529’s can be transferred to a Roth IRA. So the son will benefit from his grandfather’s gift regardless if he attends college.

[/quote]

I get that…but it’s freeing up a ton of money the parents can now use for their own savings and retirement.

The vast majority is indirectly going to them…if the FIL wasn’t contributing, they would be on the hook.[/quote]

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