How did my wife give money to her family?

After 2 months, elder brother wife proposed to sell their house. My uncle likes his wife a lot. He took one week time and finally accepted his wife proposal. His wife family involved in the house selling deal. My uncle wife convinced him to give the money to his father so that he can give interest on monthly basis.

Why was my brother always asking for money?

For years before my dad passed, my brother had been routinely asking for financial “help” from my parents. They would give him quite a bit, but my dad seemed to have his limits and would usually stop it before things went too far.

Why does my brother want to live with my mom?

My brother didn’t, plus he lived a little further away than I did. It’s just the situation that’s developed since my dad died that concerns me. My brother insisted that Mom come and live with him and his wife. My wife and I offered the same to Mom, but left it up to her.

What did my parents do with their money?

Both of my parents were very vocal about all the handouts and although everyone in the family knew, we stayed out of it, understanding it was their money to do with what they wish. We all knew it was my dad who set the boundaries… Mom was the softie whenever my brother came in with his latest sob story.

Why does my wife make so much money?

It began before she could recognize it for what it is. Your wife likely still doesn’t realize how toxic and co-dependent these relationships are, because she believes she and her brother and mother are an unbreakable triumvirate, except in this case it is not clear who holds all the power.

What happens when one sibling has a lot of money?

“Ironically, if you come from a poorer family, and particularly among racial minorities — Latinos and blacks — there is an expectation that the wealthier sibling will help out the family and, specifically the less well-off sibling.” He says this helps poor families get by, but it also restrains the richer sibling’s upward mobility.

How to give money to family and friends?

Here are strategies for subsidizing relatives and, in some cases, friends without having to pay gift tax. 1. Write a check for up to $14,000. The simplest way to subsidize others is by using the annual exclusion, which allows you to give $14,000 in cash or other assets each year to each of as many individuals as you want.

How much money can I give to my spouse each year?

The simplest way to subsidize others is by using the annual exclusion, which allows you to give $14,000 in cash or other assets each year to each of as many individuals as you want. Spouses can combine their annual exclusions to give $28,000 to any person tax-free.