dealing with financially irresponsible family members

I personally believe that if you are a healthy, thriving, contributing member of society after being raised in a situation like that, then you have every right to choose whether or not you assist your egg/sperm donor in their later years. And then, a diagnosis of cancer by my husband who concurrently announced he had cancelled his health and life insurance before the diagnosis (2008 impact on construction field) has left me as a 64-year-old scrambling for enough money to pay the bills. 10 Tips for Back-to-School Shopping on a Budget. I lost my husband my house burned down I got cancer. They only live in one. In fact, shes in her early fifties and more than capable. I have friends who have their paternal parents living with them. If I could help them I would, but how? My wife does their laundry and picks up after them. The less specific the answers, the louder the alarm bells. If you decide that you do wish to help, budget for it. The grandparents watch the grandchildren when they visit. Filial piety is earned, not freely given. They were renting (yet again) a huge house and as usual living beyond their means. And if all else fails remind them that then church, or whatever their religion iss home base,is also their family and maybe they can help out if they need it. please be wary of professionals, many are wolves in white coats. He has 4 other siblings, not one helps and hed the only one trying to pay actual bills like a mortgage, car ins. I may love my mother but I have no wish to live with her ever again, and with what I have found out lately, I am actually embarrassed to call her my mother. I really feel for you. Furthermore, they continue to pay and support my brother who is almost 30 and has never had a real job. Long story short, you should get your mother help for her gambling problems before you end up facing the legal battles that I am trying to avoid paying for someone who refused to take care of themselves before it was too late. Could they imaging having to pay for everything in their lives without a dime of help from family? Gambling is always a bad idea, and if someone gambles frequently, they don't tend to truly understand the value of money. Where can I find the laws about debt passing to the children? I moved as far away as I could at the age of 17 and by the time I was 30, I had given them a car that I had paid off, sent them money countless times and now Im getting some passive-aggressive guilt trip because they want to retire and my husband and I are retired at 40. Postnup Hes continually had to help make the payments. What you can do about it: If you love your S.O., youll need to find a compromise that works for both of you in the long term. To be Given LIFE?, .I Dont remember anybody asking their own Parents to be Born*. At least it will give us mental peace that we did what we should have. Protect yourself I think I heard you can declare financial independence or something like that even if you are an adult from your parents to protect yourself from inheriting debt. I dont feel like I owe them a penny. Both enjoy living in their old ways and are not willing to face the reality. also i have seen many illegal alien females who support themselves and their kids with out any problems they have regular jobs they just get paid cash.. so today after so many times my parents have asked for money i finally said no and i dont feel guilty actually i feel anger because they have been so lazy for so long asking for money from me and my 4 other siblings wich they will never pay back i spoke to them about my bills and my family and my needs its not my fault they were lazy for so many years and they have to find another source of income because since i can remember they have never moved a single muscle for the money they get its the either their kids or a disability check who pays their bills they need to get off their ass and make some money no fukin excuses . When you talk about such things, suggest a reasonable compromise. For years now I tried to do the right thing but it feels as though he takes advantage of me. Saving forretirementmay soon be mandatory with employers automatically enrolling new hires into plans when eligible. Undermine their involvement - Sometimes the best defense is a smashing offense! But I encourage you to change your focus, which we all can just by doing it. I know this is a really old post but reading all these comments makes me amazed at the amount of people that are in similar situations. The spending feeds it. What is my financial obligation to my family? - Get Rich Slowly I enjoy life and love wit her, but seems to me that mommy and daddy comes first. My parents moved in with me and instantly became a financial drain. Just like they tell you before a flight, put the oxygen mask on yourself before helping the person next to you. Strangely, thats pretty out of character in comparison to my youth, when she raised 2 children who never wanted for anything, and went from nothing to home ownership in 10 years time, all by herself. He was a subcontractor for most of his life but is unable to work fast enough now (with his poor health) and so he loses jobs quickly. He never listened to anyone, saved absolutely nothing, but still has two other kids to put through college. Trent Hamm is a personal finance writer at TheSimpleDollar.com. He did have problems in the space, but he should have placed his money in an escrow account until those problems got resolved. I just cant wrap my mind on how a man who has not worked in the past 15 yrs thinks ??? It was a blessing in disguise, it paved the way for many hours of unresolved issues between us to talk about, understanding each other, have over tea and come out the best of friends. Please do blame retail super funds, life insurance, financial services companies, the over valued stock market, fiscal conservative behaviour by the retirees (buying 1% bonds or 3% term deposits for example while paying more than that in fees for advice to do that resulting in negative earnings in superannuation). He will NEVER live with me or my family. I live between my two parents houses. My parents have never lived frugally and have several mortgages around the country. He doesnt pay rent or bills in the house, He takes trips out of the country whenever he feels, he shops like theres no tomorrow. With my parents, yes, I would support them if necessary. I ask that because we often think of what life has done to us when instead I prefer to think what life has done for me. I will have to take money away from saving for my kids education or my retirement to help them out. In addition to these problems, my dad decided about 25 years ago to stop paying income taxes (easy as a sub-contractor). I dont know for sure, but everything I have seen of my parents spending habits tells me that their lives are just a ticking time bomb. 6: 7-9 You reap what you sow. Now that I am making decent money and have been much more responsible with my finances I really see how bad of situations some of my family . Another strategy is to choose social events for yourself that are low-cost and try to meet people there. When I was desperately broke, even while working and going to full time school I had to go to the church to get food from the food pantry because I could not count on my parents for anything not even food. Within 9 months my father was involved with the woman he later married. Gambling Addiction and Problem Gambling - HelpGuide.org My parents sacrificed nothing. Tasha is affiliated with the Dwight D. Eisenhower VA Medical Center in Leavenworth, Kansas. They bought the house they could not afford and the luxury cars to go with it. They are in their low 50s with $0 in savings. You need to get her out to protect your family. My fiancee has had a labor law advising business for sometime now and I joined her to career change as well as get to know the trade to better our income. Mom, I love you, but you better stop spending all your money because I refuse to sacrifice my life and marriage for your luxuries. You can offer to pay for a visit to a financial planner, you can get her paperwork in order so you can put her in a home health care situation/make decision when needed, but do not mortgage your happiness for an irresponsible parent! She even has said that we should sacrifice some of our (reasonable) goals to take care of her. (And mostly counts as basically the entire generation). I believe in honoring our parents, but watching her self destruct, and allowing her to take your family with her on the journey is not honoring. Offer as much advice as you can if they ask and give them an open door for that advice. Would it be okay too since she raised your husband, etc. My mother was on trial for embezzlement when I was young (and got her first job when I was 12 after her court ordered community service was done). She has a monthly pension from my dad (her first husband) and the Social Security from her 2nd husband that covers the expense of the facility. Each case is individual. I am upset that they know they need to save, but instead go out to fancy dinners and buy expensive gadgets that they dont need but want. Why should I have to pick up the pieces? Say, I know you're making a request, but I'd like to know more information. But Ill feel guilty if we dont. A series of unfortunate events led to my parents financial demise from which they never recovered. I dont ever mistreat her, make her feel guilty, or do anything ill regret when she is gone (soon, shes bed ridden). Parents should always make good decisions financially & not make their children their go to when they want something. Thinking of their healthcare needs and my own are just scary. They lease cars and trade them frequently. Although those parents would probably put whatever money you could spare to good use to get themselves in a better situation so they wont need as much help as before instead of just blowing it. They see no way out. Last Updated: July 28, 2022 But now its just on us to handle it. Options for Parents Lending Money to Kids. You cant work in a factory or do anything because youre back, get an at-home job like I did. she tells me I need to pray and how selfish I am. To keep a long story short, until I addressed this with him, he was just handing over whatever they asked for without question and Im not talking about chump change. Separating wants and needs seems logical. I cried all day yesterday, cried myself 2 sleep, n woke up crying again! This is something Ive thought about quite often recently. Direct bequests or distributions to a financially irresponsible beneficiary provides no protection for those assets. Godspeed everyone. That seems quite a heartless reply to someone who has what is obvious to any thinking, feeling person a heartbreaking situation. They owe hundreds of thousands of dollars to family members and friends from the time they owned their business that did not pan out so well. You were entitled out of necessity. I do not expect anything from my children. I am glad my father doesnt ask for help (I think he is too ashamed after the way he treated me). To cut a long story short, the money that had been left to my brother and I by our paternal grandmother has now had to be diverted to our parents for the rest of their lifetimes because they are broke. The strategies in this thread all boil down to a few key principles. For now, I am choosing to be disengaged, because my efforts in the past in trying to change behavior have been ignored. And that lost money is money being stolen from their grandkids inheritance. They are lucky, and so is she. If youre going to consistently help, you need to plan for it starting right now. Its like talking to a child. I see this as an issue of the proper role of government. but its also the stress of knowing that shes gotten herself into this situation and the rest of us are going to be bailing her out for probably the rest of her life. She hasnt done it. A CreditCards.com poll published in May 2021 traced the family-related financial help that has spiked due to the Covid-19 pandemic. She relies on them (me) for financial and emotional support. Conduct financial transactions in a business like manner - Whenever there are big financial transactions such as a significant loan or property sale within a family they should be done in a.

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