Use the gift amount immediately and distribute it to the children
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14H
@Musikerie But that might leave a bad taste in the parents' mouths.
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13H
@Musikerie The kids have too much freedom with the money. What if they spend it right away? Or worse yet: what if they invest it for a high return? Or take it even further and put it into 3xGTAA?
Then all-out family war will break out! 🫣
Then all-out family war will break out! 🫣
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•@Epi To me, it sounded as if it was intended for the children anyway, so it makes sense to take precautions now to avoid unnecessary taxation by the government. That’s probably the biggest long-term risk when it comes to your parents’ wishes. That’s what I would advise them to do. It doesn’t have to be everything right away, but it also sounds a bit like they’re overwhelmed by the amount and the administrative burden themselves, so why not hand over responsibility right away? It seems like there’s a bit of trust there.
Otherwise, I think there’s also the option of a gift subject to conditions, but fortunately, I’m not familiar with that.
Otherwise, I think there’s also the option of a gift subject to conditions, but fortunately, I’m not familiar with that.
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•@Metis I don't really have a say in this 😅—no, it's just rational thinking after reading the text... but yeah, emotions always play a role in stuff like this, too 😬🙄
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•8H
@Musikerie You've hit a sore spot there: taxation. That's what my parents are afraid of, too—that the government will take away what they've saved their whole lives.
I’ve also brought up the idea of a conditional gift before. They find that interesting. But I feel the same way you do: I don’t know much about it. And since I don’t really care and have better things to do, I don’t want to go down that rabbit hole. And my parents can’t handle it anymore—it’s too complicated for them. And I think, deep down, they don’t trust the system, so they figure their kids could actually do something meaningful with the money while they’re still alive, instead of just hoarding it like my parents do...
I’ve already told my parents that they shouldn’t worry about what happens to that pile of money after they die—whether it’s taxed or not—that’s the heirs’ problem. They just need to stop constantly worrying about their measly savings...
I’ve also brought up the idea of a conditional gift before. They find that interesting. But I feel the same way you do: I don’t know much about it. And since I don’t really care and have better things to do, I don’t want to go down that rabbit hole. And my parents can’t handle it anymore—it’s too complicated for them. And I think, deep down, they don’t trust the system, so they figure their kids could actually do something meaningful with the money while they’re still alive, instead of just hoarding it like my parents do...
I’ve already told my parents that they shouldn’t worry about what happens to that pile of money after they die—whether it’s taxed or not—that’s the heirs’ problem. They just need to stop constantly worrying about their measly savings...
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@Epi I don’t even want to know how many people are going through something similar with their parents. While dementia in old age is clearly on the decline, it doesn’t actually make them any fitter—just older… A whole new phase of life has emerged that didn’t exist before, and entire generations are now stumbling their way through figuring out how to deal with it. I think, in the end, we can only learn from this for the future—when it’s our turn to let go.
But in a world where people turn on the TV and are still younger than the Pope or the American president, letting go of responsibility might actually be really hard.
But in a world where people turn on the TV and are still younger than the Pope or the American president, letting go of responsibility might actually be really hard.
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•8H
@Musikerie Wow, that goes faster than you'd think!
When my son proudly tells me that an army of AI agents he programmed himself is now handling his digital tasks, I feel just like my parents probably do when I talk about government bond ETFs that automatically reinvest dividends—old and out of touch. 🫣😅
When my son proudly tells me that an army of AI agents he programmed himself is now handling his digital tasks, I feel just like my parents probably do when I talk about government bond ETFs that automatically reinvest dividends—old and out of touch. 🫣😅
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