We have two sons, both very responsible and who are doing the right things regarding saving and employee matching etc...they actually said they would like to emulate us and retire early by living below their means and investing wisely.
Five years ago we helped our oldest son during a very messy divorce which required us to shell out > $100k which represented a significant hit to our limited funds. With our help he was able to retain majority custody and final say on important decisions for our grandson, so for us it was money well spent.
Youngest son earns less than oldest son and is selling his current home as they are expecting a new addition to his family of three. We are contemplating gifting some $ to youngest son to assist in his move ($20k-$30k).
I am sure the $100k was not a subject of conversation between the two men, but they are close and I anticipate that the gift to son #2 would be shared between the two.
How would you handle this?
Five years ago we helped our oldest son during a very messy divorce which required us to shell out > $100k which represented a significant hit to our limited funds. With our help he was able to retain majority custody and final say on important decisions for our grandson, so for us it was money well spent.
Youngest son earns less than oldest son and is selling his current home as they are expecting a new addition to his family of three. We are contemplating gifting some $ to youngest son to assist in his move ($20k-$30k).
I am sure the $100k was not a subject of conversation between the two men, but they are close and I anticipate that the gift to son #2 would be shared between the two.
How would you handle this?