- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Friend gave his daughter $275k when she graduated college.
Posted on 1/14/22 at 7:29 am to GreatLakesTiger24
Posted on 1/14/22 at 7:29 am to GreatLakesTiger24
quote:that's just stupid sounds like she's earned it.
kids need to build character and earn in themselves like we did! do they not care about being independent anymore
This helps her get a much better starter home in a safer area and start building equity.
Bawdad did right by his daughter.
This post was edited on 1/14/22 at 7:30 am
1
Posted on 1/14/22 at 7:29 am to nikki6
Pics?
Posted on 1/14/22 at 7:29 am to TulaneUVA
quote:
Wife and I debated 529 account a lot. Like what if the kids gets a full ride and we have to eat the penalties for withdrawing it.
Wife and I set up a 529 for my son... it can also be used for room/board, books, etc. From what I understand you can even buy a condo/house where your kid goes to school and use the 529 to pay yourself rent as an eligible expense, that's what we plan to do if he doesn't need it for tuition.
Posted on 1/14/22 at 7:29 am to DarthRebel
quote:
The sad part of the story is you all choose to live somewhere you have to pay for private school.
That is a Southern thing that has always been weird and you accept it.
It isn't a southern thing, it is a Louisiana thing.
Posted on 1/14/22 at 7:30 am to LSUBoo
quote:
If he was slowly over 20 years putting into an account in her name, maybe not?
That’s what I was thinking. If the account has been in her name the entire time, it may have already been hers, clean and clear. But I’m not an accountant.
Posted on 1/14/22 at 7:30 am to Ash Williams
Depends on how he set it up. It could have been in a trust FBO. Could have been a 529 plan. Could have been a UTMA.
Posted on 1/14/22 at 7:30 am to SlowFlowPro
quote:
I think the daughter can just basically put this towards her inheritance and deal with it during the succession. You just have to fill out a form
This is true, but the form is critical or the IRS will come knocking. It just goes against his lifetime gift tax exclusion if done correctly.
Posted on 1/14/22 at 7:30 am to nikki6
The discipline to stay the course with this is very impressive.
Hopefully his daughter has the same selfless mindset.
Hopefully his daughter has the same selfless mindset.
Posted on 1/14/22 at 7:32 am to GetCocky11
quote:
it is a Louisiana thing.
No, they do it in Mississippi as well.
Full disclosure though, while Texas schools are top notch and I do not have to worry about private. I do spend several thousands a year on kids sports.
Posted on 1/14/22 at 7:33 am to DarthRebel
quote:
quote:
it is a Louisiana thing.
No, they do it in Mississippi as well.
Ah I see. Probably goes back to when the white people got pissed off when the government desegregated the schools.
Posted on 1/14/22 at 7:33 am to DarthRebel
quote:imagine basing where you live on the quality of government schools
The sad part of the story is you all choose to live somewhere you have to pay for private school.
That is a Southern thing that has always been weird and you accept it.
Posted on 1/14/22 at 7:35 am to nikki6
Sounds like she earned that money
Posted on 1/14/22 at 7:38 am to nikki6
Sets them up really great to start for sure, if they invest it well or use it to buy a house they can grow into with kids.
Hopefully she didn’t blow it on expensive purses and shoes to show off on tik tok
Hopefully she didn’t blow it on expensive purses and shoes to show off on tik tok
Posted on 1/14/22 at 7:39 am to GreatLakesTiger24
quote:
kids need to build character and earn in themselves like we did! do they not care about being independent anymore?
This is a case-by-case thing.
Giving me money when I was that young would have been a mistake.
But a friend’s father bought each of his children their first house when they married, and that was a big boost for them. They had no monthly rent/mortgage payment starting out, and of course they had the value of the house to carry forward when they moved.
Posted on 1/14/22 at 7:39 am to nikki6
That's an awesome story. I'm trying to do the same with grandkid's accounts. But it definitely will not be 275K!!!
Posted on 1/14/22 at 7:41 am to nikki6
On a much smaller scale I would take my daily change and single dollar bills and put in a big plastic box for my daughter. I started this before she was born and gave it to her when she graduated LSU. It was about 25K.
Posted on 1/14/22 at 7:41 am to GreatLakesTiger24
quote:
imagine basing where you live on the quality of government schools
Good public schools is a pretty fricking solid indicator for a lot of other things people with kids look for.
I mean, assuming you have kids... if not who fricking cares?
Posted on 1/14/22 at 7:42 am to GreatLakesTiger24
quote:
imagine basing where you live on the quality of government schools
Just a few days ago there was a thread here about lesbian and tranny teachers trying to indoctrinate children that people were pissed about but then when private schools come up some of those same people make fun of it. Weird.
Posted on 1/14/22 at 7:42 am to nikki6
Awesome to hear!
If you can swing it then do it
If you can swing it then do it
Posted on 1/14/22 at 7:43 am to Ash Williams
No, there is no tax on that money, just a reduction in the dads estate exemption.
Page 2 of 9
Popular
Back to top
Follow TigerDroppings for LSU Football News