Each of them can only gift like $14k to a single person tax free, so are they giving you four times that each year?

It's call transferring wealth! You millennials complain and complain about the boomers hoarding all the wealth. This is them -trying- to transfer it. Trying to give it to you. They think you can do some good with it. The elders are out of ideas, out of energy. They are passing the torch. Take it and do good.

OP, If this gift is causing awkwardness in your house I can see why it is upsetting. If you don't want it to change your life, just put it in the 529s for your kids, and if it is more than permissible for that contribution then move it to an account at a brokerage house in some index fund
and ignore it.

Anonymous wrote:

Anonymous wrote:Would you feel differently if it was your parents gifting? Please just appreciate that this is something they want to do for you.

As OP's husband in this scenario, I would find it very disrespectful if my spouse wanted to just negate all the hard work my parents and grandparents put in over decades to make the lives of the next generations better just because the money made him uncomfortable.

OP if you really can't handle having this money you need to put it into funds for your children, or your nieces and nephews or other relatives if you don't have children. This is your IL's legacy and you need to respect it.

Unless they are crooks and the it's dirty money... in which case donate away.

Hadn't thought of that. Maybe OPs ILs are hiding money? Is it coming in cash OP? Any mob ties?

Feel free to donate that money to me! Goodness knows I can use it and I work plenty hard too. Not everyone who works hard earns a ton of money.

Anonymous wrote:Would you feel differently if it was your parents gifting? Please just appreciate that this is something they want to do for you.

As OP's husband in this scenario, I would find it very disrespectful if my spouse wanted to just negate all the hard work my parents and grandparents put in over decades to make the lives of the next generations better just because the money made him uncomfortable.

OP if you really can't handle having this money you need to put it into funds for your children, or your nieces and nephews or other relatives if you don't have children. This is your IL's legacy and you need to respect it.

Unless they are crooks and the it's dirty money... in which case donate away.

Anonymous wrote:

Anonymous wrote:God I loathe rich people. Seriously. This is a problem?!? Donate it. Do something meaningful with it for yourself and your children. Or let it sit and accrue interest. This is NOT a problem.

But, OP doesn't sounds rich. She said she works hard to be financially stable.

Anyone me who would stop to complain about thousands of dollars being given to them is among the richest people on the planet. Ridiculously rich. And ridiculously rich people who don’t know how effing privileged and rich they are are the most annoying of all.

Anonymous wrote:God I loathe rich people. Seriously. This is a problem?!? Donate it. Do something meaningful with it for yourself and your children. Or let it sit and accrue interest. This is NOT a problem.

+10000

Get a grip

Anonymous wrote:

Anonymous wrote:Has anyone mentioned yet that they can't give you over a certain amount (used to be $10k) without you being taxed on it?

The ignorance on this topic is huge, especially among those who think they know something about it.

LOL, PP, that's because most people NEVER receive tens of thousands of dollars as a gift on a regular basis. You say this like there's a character flaw for not knowing the financial best practices of the wealthy. Get over yourself.

Seriously, stop it. If you feel so terrible about it go give the money to any of the countless charities that could desperately use it.

Anonymous wrote:Has anyone mentioned yet that they can't give you over a certain amount (used to be $10k) without you being taxed on it?

The ignorance on this topic is huge, especially among those who think they know something about it.

Anonymous wrote:Has anyone mentioned yet that they can't give you over a certain amount (used to be $10k) without you being taxed on it?

It's $15k per person per giver so 2 parents can give each person in the family $30k/year. No tax consequences to the recipient but possibly some to the givers estate (assuming it's over $11.4m.)

My mother has given my kids (young adults) cash gifts in each of the last few years. They have NO complaints. OP just invest the money and enjoy the peace of mind it brings.

I will send you my address if you don’t want the cash.

Has anyone mentioned yet that they can't give you over a certain amount (used to be $10k) without you being taxed on it?

But what’s a really cruel but subtlety cruel thing op can give il’s for Christmas? Like a side eye acknowledgement that op knows what il’s are really trying to do with this bribe hush money.