When a family member unexpectedly inherits a large sum of money, it can have unexpected consequences. In a recent letter to advice columnist R. Eric Thomas, a reader shared a story about her husband’s niece, Carol, who has always spent more than she earns in anticipation of a big inheritance. When Carol received only $10,000 from her grandparents and then learned that her father had spent most of his inheritance, she turned to her uncle for financial support.
Now, Carol is pressuring her uncle to give her a monthly stipend from the family money and to leave the bulk of it to her in his will. However, the reader’s husband plans to leave a modest amount to Carol with the majority going to his wife and eventually to charity. Despite Carol’s high salary and ability to get out of debt if she chooses, she continues to live beyond her means.
The advice given to the reader is to have an honest conversation with Carol about the situation before it’s too late. While the reader’s husband wants to maintain a cordial relationship with Carol, enabling her reckless spending habits is not the solution. By addressing the issue now, Carol has the opportunity to make changes to secure her financial future without relying on an inheritance that may never come.
In the end, it is important for the family to have open and honest communication about finances to avoid misunderstandings and unrealistic expectations. It may be a difficult conversation to have, but it is necessary for all parties involved to ensure a harmonious relationship moving forward.
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