How far should the financial support to a "less succesful" child go? - PaGaLGuY.com - The Everything of MBA in India and Abroad, CAT 2009, GMAT, XAT, MAT
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How far should the financial support to a "less succesful" child go?
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jhanvi jhanvi is offline
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How far should the financial support to a "less succesful" child go? - 29-01-2008, 05:48 AM

I am one of 3 sisters, all adults with children. We have lost our mother recently. This has prompted the discussion around heritage. One of my sisters has led a difficult life (divorced with two young children, several years unemployed etc), while also needing some "external status symbols" (sports car, designer clothes etc). My father leads a very cheap life, but also owns quite a lot, having had a good career. He spends money to support causes in underdeveloped countries. He has helped my sister financially when she struggled, paid her debts back etc, telling her that this support would be deducted from her heritage to come. She is now adamant that it is our father's responsility to help her and the money was "due" to her and she owns nothing back from her heritage. What is your gut reaction? Is she right?


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Re: How far should the financial support to a "less succesful" child go? - 02-02-2008, 03:25 PM

Ppl should earn themselves. Parents shd only support to achieve qualification, at least in Indian conditions. Even unlimited wealth will get exhausted one day. What will she do then, esp if she is extravagant.

While i am not a legal expert, as the wealth is earned by your father himself he can decide whom he bequeaths and in what percentage. No child have say in that. Its advisable your dad creates a will and registers it faster.

Also advisable that he donates a majority to develomental projects. If he has educated you all sufficiently you shd be able to earn yourself. I guess your father has done enough for your sister.


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