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I've seen a few less clear-cut examples. One in particular, a family who inherited land and assets worth 10-12 million from his mom and dad, who started from scratch to build the family fortune. Dad long gone; widowed Mom not so maternal and cuddly - a stern taskmaster who demanded hard work and best effort always from her son. She lived to be 102, spent the last 8 years of her life on medicaid in a semi-private room in a substandard nursing home because her son was too cheap to pay for more comfortable accommodations. Her son and grandson professed to admire and adore her, gave generous donations to organizations in her name.
I just don't get it.
If the mom and dad built up the family fortune, wouldn't most of the money have gone to the mom at her husband's death? That's my understanding of inheritance laws, even without a will.
How did it get diverted from the mother to the son?
$3500.00 is quite abit for electric bill. Do you know when he last paid his bill ? My last electric bill here in so.ca (may 2013) was $13.00. The highest summer bill for me will be around $20.00 (incl the 20% care discount).
Wow what?! That sounds like a 1950's electric bill! I need to move, apparently.
Quote:
Originally Posted by germaine2626
Our summer electric bills, in Wisconsin for a small condo, are usually about $250 a month. During a heat wave they were just under $300. In the winter our bills are about $200 a month. So $3,500 including penalties didn't seem like he was lying as it could have been the correct amount..
Now, on the other hand, your figures seem pretty suspicious. Are you in a time warp and living in 1972?
We live in Texas where it is hot a good nine months out of the year. Our electric for a 1000sf apartment runs around $250 per month, closer to $300 in the hottest part of summer. In winter we average about $125 but that is because we rarely turn on any heater and just use electric blankets.
We have had rough periods where we had to ask for deferments with the electric company (in summer) and even so, with extended periods to not pay and late fees and all that the most we ever 'racked up' a utility bill was about $800. Then they made us pay half to keep it on. $3500 I guess is possible but seems extreme. Personally, if I were going to help, I'd be asking for the account info and having him (the brother) authorize me to speak with someone directly at the electric company before I paid out anything.
As for obligations and family; no. I would tell my father to feel free to invite this brother to come and stay with him while the power is out.
I have a brother that loans me money and that I've loaned money to. We are close though. We grew up together. Hell, he helped me out one Christmas from PRISON, contributing more to my kids' Christmas gifts than my ex- husband (who was free and free to work) had contributed. My brother had some oil royalty money put aside, from an inheritance from our father, and sent me $300 one year for Christmas from that money.
When he needs something I help him and vice versa, and we never really talk about it in terms of loans, but like I said, we are close and always have been close. I have other siblings (half siblings) that I barely know and the issue would just never come up.
If the mom and dad built up the family fortune, wouldn't most of the money have gone to the mom at her husband's death? That's my understanding of inheritance laws, even without a will.
How did it get diverted from the mother to the son?
Without a will it would either all go to mom automatically or it would go through probate and a judge would decide where it would go, which would be to mom in most cases. It varies by state.
I'm guessing in this case they weren't in a community property state and dad was able to keep all the family's assets in his name, which he passed on to Junior in his will. Maybe he did this because mom wasn't very good with finances and he assumed that Junior would see that she was taken care of, or maybe he did it out of spite because mom wasn't very "maternal and cuddly."
To answer your question: NO. Don't loan him the money. Give it if you wish, because you won't see any of it back. Something doesn't add up though. Where do these people live, the North Pole? Power off since Winter and some law saying they can't cut off power during the Winter. We're now well into Summer (temperature-wise anyway) and so they can finally cut off the power. What kind of scam is that power company running?? Even here in Texas where our electric bills are so high in Summer, only 6 months at $300 would be $1800, yet it is really going to take $3500 to turn back on the power? I don't buy it. And I certainly wouldn't give money to anyone so irresponsible after that many months.
You have to be kidding me? A $3500 light bill means you're running an arena or you never pay your bill. If you want to give him something than by all means go ahead but it better be a gift cuz you aren't getting it back.
My brother is in financial trouble and now he needs $3500 to turn the power back on in his home.
He had not paid the bill over the longest time and got a winter hardship while they could not shut off his power due to the cold weather law. With penalties it is now $3500 to turn the power back on.
Last time he got into financial trouble he nearly lost his only family car when the bank said he has a few hours to catch up on his payments or they would tow the car away.
Growing up I never had anything to do with this brother. Now as an adult he generally does not speak to me and he lives 400 miles away so we only see each other on Christmas. I don't remember ever having a real conversation with him.
When he borrowed money from me last time he stopped paying me after a few small payments and would not acknowledge me when I asked him about his debt.
Now that he needs even more money he is smart enough to not ask me directly, he has our father to do the dirty work. My father said I owe him help because he is desperate and I am the only person who has the money in the family to save his family of five from living in the dark.
Do I really owe it to him to bail him out again because he is family and my wife and I have money?
No, I wouldn't do it. Tell him to go with another power company, or figure it out for himself.
My brother is in financial trouble and now he needs $3500 to turn the power back on in his home.
He had not paid the bill over the longest time and got a winter hardship while they could not shut off his power due to the cold weather law. With penalties it is now $3500 to turn the power back on.
Last time he got into financial trouble he nearly lost his only family car when the bank said he has a few hours to catch up on his payments or they would tow the car away.
Growing up I never had anything to do with this brother. Now as an adult he generally does not speak to me and he lives 400 miles away so we only see each other on Christmas. I don't remember ever having a real conversation with him.
When he borrowed money from me last time he stopped paying me after a few small payments and would not acknowledge me when I asked him about his debt.
Now that he needs even more money he is smart enough to not ask me directly, he has our father to do the dirty work. My father said I owe him help because he is desperate and I am the only person who has the money in the family to save his family of five from living in the dark.
Do I really owe it to him to bail him out again because he is family and my wife and I have money?
Let him hang himself. You're not responsible for his irresponsible behavior. Notice how he only speaks to you when he needs something. That should tell you something. If his family is smart, they'll get the hell out of dodge and leave his deadbeat ass.
Let him hang himself. You're not responsible for his irresponsible behavior. Notice how he only speaks to you when he needs something. That should tell you something. If his family is smart, they'll get the hell out of dodge and leave his deadbeat ass.
Yeah but look, what's funny is he didn't even ask - -their father did the asking! So that's what's the big slap in the face. But OP is still considering it! Yikes!
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