OP could have gone totally dark at 18-19. Change his family name to Jones, move to another town, change his phone number. If needed they could always contact him by email (which doesn't reveal any personal info)
S 1 An OP sold his start up at 25, for 8 figures. His parents disinherited him from their $ 5 m estate saying your brothers need it more. They lost everything in 2009. Wanted him to help them. He said disinheritance works both ways, do I know you?
Actually this makes total sense as many parents favor the antics of the foot loose fancy free indulgences of the freedom child. Bless their heart. Vicariously living the life through their offspring. I have seen this guilting others as to support “our” nasty little secret. Some women love bad boys. Many parents love their delinquent. Total emotional gush “look at us” while hedging their bet. OP can also feel the burn and do what’s right. And we as audience can suck up the blood boiling, go to the end of the line, sit down, STFU and do what we are told. Very English American you know daddy’s daddy daddy’s daddy. Know your place, stay in you place. We will see.
you see, i would have put the properties in a trust. and have the family manage it together to prevent anyone from gambling it all away. too much power at once is poison. look at how so many lottery winners end up losing it all. if you never had the experience of managing that much, you shouldn't be trusted to manage it all at once. at least no one could be screwed over by another family member while you are still alive if it is in a trust with everyone's name in it.
There are rare exceptions. About 40yrs ago my mother worked with a woman who won the grand prize of $1million on the Super Lotto. She retired immediately. My mother said her lifestyle didn't change much. She dressed a little better and ate a little better. When interviewed to see what she would do first with her winnings she said, "I'm going to have my living room furniture reupholstered." Yeah. Not a new house, not new furniture, reupholster. The woman was wise and she was set for life.
Terrible estate planning. By gifting the assets, the brother gets no step up in basis when the parents die. So if the parents paid 10K for the house, when the son sells it , his cost basis woudl be 10K. If he son had received after death, the cost basis would be FMV of the asset at date of death. The parents basically screwed over their son by having him pay all of the capital gains when he sells assets
This is the smallest issue with this problem 😂😂😂 the first part they fucked in was singing over their assets when they were still in need of them. I have no idea how OPs parents thought it would be a good idea to flush all their assets down the drain.
Stories like this, I always ask why they victim child does nkt sue saying the parents were not in their right mind. Giving everything away to one child to rely on the other is not sane by any means.
Cause that’s not grounds for a lawsuit. No one but your spouse is actually entitled to any wealth you have. Of course when you have kids you must support them but you don’t need to do more than that and after they are 18 you aren’t responsible for that either.
This falls under “don’t set yourself on fire to keep others warm”.
Do not screw over the person you expect to take care of you!
What type of son does that. The type of son that doesn't get anything in the will, that's who.
Perfect response. "No" is a complete sentence
Literally you could tell your parents that you can’t help anyone. Since you have to be responsible for yourself without help
Dad: “T is a total failure and fiscally irresponsible. Let’s give him all our worldly possessions.”
Mom: “That’s a great idea!”
The audiences: Delusional lvl 999....🤣
My brother has always been the golden child. Went to prison for a while, and has never done much on his own. Lived with our parents his whole life.
Thats sad but some people are like this right? They dont change unless something drastic happens to them. 😑
The 'golden child' is almost always a POS.
Wonder where the parents are going to live when T mortgages the house and vacation property and then looses it
They along with the spoiled brat T will probably end up living where they truly belong…………..in a DUMPSTER !
It is there money. You and your siblings don't have any rights to any of it. But the retirement thing is not your responsibility either
True and true. That's the whole point of the video.
grammer Nazi tip---You meant 'their' money 🤣🤣
@@oldhag2881 exactly what I meant, I will double check my grammar in the future.
OP could have gone totally dark at 18-19. Change his family name to Jones, move to another town, change his phone number. If needed they could always contact him by email (which doesn't reveal any personal info)
S 1 An OP sold his start up at 25, for 8 figures. His parents disinherited him from their $ 5 m estate saying your brothers need it more. They lost everything in 2009. Wanted him to help them. He said disinheritance works both ways, do I know you?
Actually this makes total sense as many parents favor the antics of the foot loose fancy free indulgences of the freedom child. Bless their heart. Vicariously living the life through their offspring. I have seen this guilting others as to support “our” nasty little secret. Some women love bad boys. Many parents love their delinquent. Total emotional gush “look at us” while hedging their bet. OP can also feel the burn and do what’s right. And we as audience can suck up the blood boiling, go to the end of the line, sit down, STFU and do what we are told. Very English American you know daddy’s daddy daddy’s daddy. Know your place, stay in you place. We will see.
you see, i would have put the properties in a trust. and have the family manage it together to prevent anyone from gambling it all away. too much power at once is poison. look at how so many lottery winners end up losing it all. if you never had the experience of managing that much, you shouldn't be trusted to manage it all at once. at least no one could be screwed over by another family member while you are still alive if it is in a trust with everyone's name in it.
There are rare exceptions.
About 40yrs ago my mother worked with a woman who won the grand prize of $1million on the Super Lotto.
She retired immediately.
My mother said her lifestyle didn't change much. She dressed a little better and ate a little better.
When interviewed to see what she would do first with her winnings she said, "I'm going to have my living room furniture reupholstered."
Yeah. Not a new house, not new furniture, reupholster.
The woman was wise and she was set for life.
Terrible estate planning. By gifting the assets, the brother gets no step up in basis when the parents die. So if the parents paid 10K for the house, when the son sells it , his cost basis woudl be 10K. If he son had received after death, the cost basis would be FMV of the asset at date of death. The parents basically screwed over their son by having him pay all of the capital gains when he sells assets
This is the smallest issue with this problem 😂😂😂 the first part they fucked in was singing over their assets when they were still in need of them. I have no idea how OPs parents thought it would be a good idea to flush all their assets down the drain.
Stories like this, I always ask why they victim child does nkt sue saying the parents were not in their right mind.
Giving everything away to one child to rely on the other is not sane by any means.
Cause that’s not grounds for a lawsuit. No one but your spouse is actually entitled to any wealth you have. Of course when you have kids you must support them but you don’t need to do more than that and after they are 18 you aren’t responsible for that either.
this is the plot of raisin in the sun
Money or perhaps "benefit" can be used as a reason for lots of things
I really hope this is rage bait because surely no parents are that stupid