Parenting Grown Children: What Dr. Spock Forgot to Tell Us

The Grandchild IOU: Can we sue if our kids don't reproduce?

Here's the premise: After we've helped support our adult children through college and early work years, they (and their spouse)  owe us grandkids. If they don't deliver, they should pay us back. Moreover, we can sue them if they don't fulfill their part of the next-generation equation. 

Hah! A laughable notion, right? But in India, a mom and dad are suing their son and daughter-in-law for failing to come up with a grandchild after six years of marriage--and years of financial support that included paying for a lavish Bollywood-style wedding.

The suit may sound out of whack to our Western ears but, as reported in the New York Times, in India the suit  made headlines in national newspapers and "prompted a debate about how much control parents should have over their children’s life choices." The demand is, according to the couple's lawyer, "an Indian parent thing." (The parents are suing for $650,00 in damages.)

Cultural differences aside, it's hard to accept that a sense of let-down can be righted by a financial transaction. That said, the grievance is all too relatable. It's culturally acceptable here to encourage our recently married children to "get on with having a family," even to make what we think are "cute" little remarks along the lines of "what are you waiting for?" If they decide to go forth childless, we may choose to make our displeasure and disappointment known at our peril.  

Here's a little more from the Times story on what pushed the parents over the edge.

After spending their savings to have their son trained as a pilot in the United States, Sanjeev Ranjan Prasad and Sadhana Prasad financed his lavish wedding back in India, along with a luxury car and an overseas honeymoon.

They assumed their investments would eventually pay off, in the form of a grandchild. But as time ticked by, they say, the not-so-newlyweds showed little interest in producing one.

After waiting anxiously for six years, they decided to sue.

While the suit is given little chance of succeeding, that doesn't mean it hasn't hit a sympathetic chord with many parents of adult children.

Raavi Birbal, a lawyer in India, said that the suit would probably not go far because its arguments violate rights enshrined in India’s Constitution, including the right to liberty.

“This is actually a very rare case,” Ms. Birbal said. “That is why it is so much in the limelight. But, ultimately, it is the couple’s choice to have a child, not that of their parents.”

Hari Bhushan Yadav, 52, a shopkeeper in Haridwar, said that residents had been discussing the case with great interest over tea outside his shop, and that older people tended to sympathize with the plaintiffs.

painting: Claude Monet, The Cradle

 

 

Our Children's Love Lives: What to do when we object to their choice for a mate.

We're not always happy with our child's choice of their future spouse or significant other. Our reservations about them may not be centered on the old standby, "No one is good enough."  We may have valid concerns about the future mate's values, behavior or distressing cultural differences. Unless there are signs of physical or emotional abuse, we're usually stuck with swallowing hard and trusting our child knows what they're doing.

Sometimes other family members chime in--not necessarily to support our point of view but to let us know we should stand back and not be too judgmental. And that makes us feel, well, as a reader wrote to Ask Amy, blackmailed.

The reader/mother's objections: Her daughter's fiance is a heavy pot user (so is the daughter), a felon for selling narcotics, an unemployed college dropout who has psychiatric and physical health problems. In the mother's telling, the daughter is beautiful and has lived a privileged, upper-middle-class life. The parents are paying their daughter's living expenses and tuition as she attends graduate school. The other children--the daughter's siblings--have told the mom to support their sister's choice of a partner; moreover, if she doesn't she (the mom) could lose contact with all of them. The dad is retiring soon and feels they should support the relationship but let the daughter know she's on her own financially.

 "If I cut off my daughter financially, she’ll hate me," the mom writes. "If I don't support her relationship with her boyfriend, they'll all hate me."

Amy's advice finds a middle way by leaning on a distinction between “support” and “accept.” That is, the mom should accept her daughter's choice in a partner "because she is an adult and she has the right to make terrible choices."

What does accept mean? Amy expands on that notion:

Invite them over for dinner, include them in family events, and yes — you may be forced to face and tolerate your disappointment in your pot-using daughter and her choice in partner, but until she is forced to face her own choices and disappointments, she will never be inspired to perhaps choose differently.

The support part is also a compromise. If the parents don't want to continue to pay rent and other living expenses for their daughter and her fiance, they could limit financial support to the cost of the daughter's education. Here's Amy with an additional twist:

If she continues with her graduate program and you can afford it, you might choose to pay only her school bills (directly to the school).

We love our children. We want the best for them and count ourselves fortunate when we can afford to help them achieve their goals. But sometimes, we have to pull back. The trick is to do so without permanently damaging our relationship and by making sure our children always feel the love of family. We also need to cover ourselves in case we failed to see the positive side of their choice.

painting: Harlequin by Picasso

Leaving a Legacy: Is there a fair way to divide our assets?

The two most boring words in a parent's vocabulary: Estate Planning. Within that world, the most volatile words are Unequal Shares.  Whether we have a gargantuan billion-dollar estate to divvy up among our children or just a small savings account to apportion (or somewhere between those two extremes), we may have reasons to deviate from the mean.

The mean, of course, is to divide whatever we have equally among our children. That way we are likely to head off squabbles--and possible litigation--among our heirs. It's true that we're no longer around to witness any ugliness that may ensue but as financial advisors are fond of saying, "Most of us would like to be remembered for who we were, not for what we had." (Backing that up, a 2020 Merrill Lynch study found that two-thirds of us want our family to remember us as the people we were; only 5 percent ticked the box for wanting to be remembered for our accumulated wealth.)

Would a positive memory be besmirched by our kids fighting over what we've left them? Let's go to the research again. An Ameriprise survey found that, after we were no longer around to adjudicate, 70 percent of the fights between and among siblings involved how an inheritance was divided.

“With unequal inheritances, you run the risk of causing sibling animosity,” one estate planner said. “If you go this route you need to manage expectations so you don’t have one sibling blaming another.”

Why go the unequal route? A friend of mine with a disabled daughter has set up a special trust for her care and asked her sons to manage that trust. Most of my friend's assets will go into that trust. Her sons understand why and what their family responsibilities are.

There are families where one child is super successful financially and the other works in a worthy but low-paying field. In some families, one child has remained close to her parents while the other is estranged or one child manages to visit often but the other doesn't, or one has several children and the other doesn't.

As parents we may have all kinds of valid reasons for carving our estate into unequal shares. And a number of us are doing so. In fact, the percentage of parents who left unequal inheritances to their children more than doubled between 1995 and 2010, rising from 16 percent in 1995 to 35 percent in 2010. 

The key to avoiding sibling spats over unequal shares is pre-planning. As I've noted in my posts here  and here , while you're still in good health or of sound mind, it pays to sit down with your child (especially the one with the diminished share) and explain what you're doing and why. Facts alone may not be enough. Their emotional understanding of the unequal share may be helped by our reassurance that their share of our worldly goods is no reflection of how much we love them.  Estate plan aside, it never hurts to remind our children of our unmeasurable love for them. They're never too old for that.

art: Robert Rauschenberg

Money Matters: Grown children and the financial intelligence gap

A letter to a financial expert asking for advice about an inheritance was not your usual request. The question came from a woman whose father-in-law left her 29-year-old daughter---his granddaughter--a sizeable fortune in a trust that was currently being managed by her daughter's father. When the daughter reaches 30, however, she is eligible to manage the trust herself. Few of us are in the situation of being the parent of a child who is inheriting a fortune.  And yet, though the sums of money may be significantly substantial, the issue this parent faces is one many of us worry about: Will our grown children be able to handle financial responsibilities if we're no longer around to help them. How do we prepare them?

If you're interested, you can read here the expert's advice on helping the daughter understand her financial challenges and choose an adviser to manage the money.

But the expert's advice on preparing a child to be engaged in and understand how to handle financial responsibilities applies more universally. Here are some points Quentin Fottrell, who writes as the Moneyist, makes:

Encourage them to ask questions:

Unless your daughter builds enough financial confidence to ask questions and learn about how she can invest her money, and trust her instincts and establish her own risk tolerance when it comes to investments, she is vulnerable to another person stepping in and filling your husband’s shoes, particularly when he is no longer around to help.

Let them make decisions:

Trusting your daughter to make the right decisions is part of her growing up....The best you can do is to lead by example, and — I’m with you — part of that is allowing her to make her own decisions, as you and your husband have done with your own lives.

Talk things over with them:

Bottom line: You want your daughter to become an active decision maker, even if the answer is to do nothing for now; learn the basics of investing so she knows what questions to ask; and not hand her fortune over to one person to make decisions without her knowledge or understanding. It’s her money, after all.

The first step is for you both to sit down with your daughter and include her in these conversations. You will discover that you will all learn from one another.

painting: Marinus Van Reymerswaelle, 1539

 

 

Money Matters: When sibling rivalry crosses the helping hand

Many of us take great pleasure in helping out our children financially. If we have the wherewithal we're likely to help them with a downpayment to buy a house. (Roughly 20 percent of U.S. homeowners received gifts or loans to help them buy a home, according to Money Magazine, and most of that money came from us--parents of grown children. Money Mag tells us that if the “Bank of Mom and Dad” were a true business, it would be the seventh biggest mortgage lender in the country.)

There is at least one hitch to all this Mom and Dad banking. If we have more than one child, they can get ensnarled in bad feelings--toward us, toward each other--over money we've given one child and not the other or others. The business of giving them what we might call "an advance on their inheritance" can be trickier than writing a will. With the 'advance on inheritance" we're still around to feel the sting if one child feels favored over another.

In a letter to Philip Galanes and his Social Qs column, a reader was feeling that kind of slight.  Her parents had let her know that they had given her sister "a chunk of money to help with a down payment on a house." They told her she wouldn't be receiving a matching sum and for a rational reason: The writer and her husband already owned a house, which they were able to buy with a generous gift from his parents. "My parents aren’t wealthy, so I understand their decision. Still, it stings!" From her perspective, the money they gave to her sister signifies that the parents love her sister more than they love her.  The writer wants to know whether to raise her grievance with her parents.

Galanes reminds the reader and all of us that the parents’ money is theirs. "Whether they are fabulously rich or just squeaking by, they can spend it however they like. And adult children have no entitlement to it."

Over and beyond that, Galanes acknowledges that "sibling rivalry for parental love can be painful" and that the writer should talk to her parents about their decision. But his final reminder in this family drama is one we should all take into account at gift giving or will-writing time:

And for parents: If you intend to make unequal gifts, it can be helpful to discuss the issue in advance. Feelings about parental gifts can run strong!

We are free to do with our money as we see fit. We don't owe our children anything now or in the future. But that's not really the point. What we do owe them is a sense of fair play--an explanation of why we've chosen to do as we have and why, especially when we choose to help one child and not another.

painting: Rothko, Untitled

Post Pandemic Issues: Can we close our helping hand to our non-vaxxed kids

The country is riven by the vaccinated versus anti-vaxxers. Infection rates are escalating among the unvaccinated. That's allowing new, virulent variants to thrive, threatening our health and the return to normal, whatever that may be.

What happens when the unvaxxed hits home, when it's not the rogue uncle or distant cousin but your adult child who won't get a shot?

This touchy issue popped up in Kwame Anthony Appiah's New York Times column The Ethicist. The father of an unvaxxed son wrote in with that quandary plus a further complication. Until the son gets a job, the dad is paying his son's share of the rent on an apartment the son shares with his girlfriend. But the son's job search is complicated by his reluctance to get vaccinated. The reader posed this argument and question:

I told him that future employers would most likely insist on his getting vaccinated, and that his unvaccinated state would have financial implications by delaying his start date and income until he could get fully vaccinated. I said that his refusal to get the shot would cost money and that I wasn’t sure I would continue to support him during that gap period between accepting a job and starting work. He became upset, maintaining that he was already compromising by agreeing to become vaccinated if a job required it and that my withholding support was unfair, especially given his willingness to compromise by getting the shot.

Who’s right here? 

Appiah covered the importance of getting vaccinated and then zeroed in on the issue of whether the father, who's nearing retirement and feeling a financial pinch, is right to cut off financial aid if his son refuses to get vaccinated.

Vaccination aside,  Appiah made a point that will resonate with all of us who offer our grown children financial support of any kind. 

If he’s willing to accept an employer’s terms, he should be willing to accept his parental benefactor’s. After all, a parent isn’t generally obliged to provide financial support to an adult child.

Given that you have allowed him to depend upon your generosity, however, you would do well to withdraw that support gently, or with ample advance warning. I know it seems paradoxical to say that a gift can entail an obligation. But in all sorts of circumstances, it can. Suppose your tractor-owning neighbor makes a habit of clearing your driveway every time you’re snowed in. Because of her generosity, you don’t make alternative arrangements. If she suddenly has a change of heart, you’re worse off after the next blizzard than you would otherwise be. That doesn’t bind her to a lifetime of plowing your driveway; it does mean she owes you notice.

In the end, though, respecting people’s agency doesn’t mean you have to underwrite their every mistaken belief. Your son is free to reject your support if he wants to persist in error.

Daddy Indulgence: If we're guilty of over-helping our young-adult children, is that bad?

Scratch someone who doesn't have children and they'll probably tell you: Too much. That would be in answer to the question: Do parents do more than they should for their adult children. I had a single co-worker who dubbed my husband "Daddy Indulgence" for such "crimes" as paying for our children's college tuition. (We had saved up for it for years.)

My co-worker's teasing was good-natured. (She hoped our kids appreciated the gift.)  But still, the "daddy indulgence" trope persists as a reflex reaction.  There's a reason for its apparent growth recently: Although our children's march toward financial independence moves forward, it's doing so at a slower pace than our generation's.

According to a Pew 2019 survey, financial independence is

"one of the many markers used to designate the crossover from childhood into young adulthood, and it’s a milestone most Americans (64%) think young adults should reach by the time they are 22 years old....But that’s not the reality for most young adults who’ve reached this age.

The reality is: In 1980, roughly one-third of young adults were financially independent by the time they hit age 22; in 2018, that was down to one-fourth. When Pew looked more broadly at young adults ages 18 to 29, though, the survey found financial independence has been largely stable in recent decades, with women closing a gender gap.

There are other markers that suggest our adult children are less independent than we were. Here's Pew again. (This was based on a 2019 survey in those halcyon pre-pandemic days; Covid-19 has likely skewed a lot of the numbers and not in a positive direction):

 Today’s young adults are staying in school longer and are marrying and establishing their own households later than previous generations. A growing share are living in their parents’ homes well into their 20s and even early 30s. (See this Parenting Grown Children post.) Some of these changes are linked to economic challenges, while others may represent a realignment of goals and priorities.

As to the indulgence side of the equation, the Pew survey found we were helping out our kids with the basics-- groceries and housing--plus tuition. 

Aside from the question of whether these 'indulgences" augur good or ill for our adult children, where does the finger of blame point? Pew is quite unequivocal: The majority of the public says, as my co-worker teased, parents do too much for their young-adult children and most parents of adult children disagree.

How do our kids feel about the aid and assistance? Pew asked that question as well. Turns out we're in sync with our kids on this one:

Young adults themselves are largely satisfied with what their parents are doing for them. A majority (65%) say their parents do about the right amount for them – similar to the share of parents of young adults who say they do about the right amount for their kids.

 

Should we reboot the tough-love rules on loans to our kids during the corona crisis?

As we welcomed in the new year of 2020, our adult kids were on a steady financial path: working, paying their rent, fiscally independent. Or they might have been in mid-struggle but showing promise. Then along came the coronavirus pandemic and its devastating effect on the economy. Our adult kids may now be in financial trouble. Some have moved home to shelter with us--and to save money on rent. Some are keeping their physicial distance but asking for tide-over loans.

Should we apply the same rules to helping them out now as we did pre-disaster? Is the Coronavirus crisis a time for stronger-than-usual doses of compassion?

To judge by anecdotes that are on the loose in the media and statistics from Pew, whose pollsters follow inter-generational issues, most of us are welcoming--or allowing--our grown kids to move back in with us. More about that fiscal helping hand in a future post.

What about a loan to help them survive during a failing and flailing economy? According to a survey by Commonwealth taken in the relatively optimistic days of April,  more than half of Americans are worried about the virus’ impact on the economy and their financial lives.

If one or more of your grown kids needs help in these extraordinary times, here are some points to pop into the decision hopper:

A run on the Bank of Mom and Dad. That is, one of your grown children could ask for a loan that's a reasonable request and that you want to fill. But our finances have their limits. Are there other children or close relatives--a brother, a parent--who might need help as well. A loan should be seen in the context of how much you can afford to lend and how many key borrowers might have needs.

Lower expectations. You may want to make the loan a loan--not a gift. You may even write out a loan agreement with interest rates and repayment schedule attached. But gird yourself for disappointment or, better case, lapses. These are truly hard times, even panicky ones for those who don't have money in the bank but do have a family to raise--even if income has been reduced or jobs lost. Unexpected expenses and setbacks happen.  If we're the ones with resources that can survive a hit, we may not like it but we should be prepared to realize the hit may be permanent. Here's a word of advice from a financial counselor: If it's a loan and not a gift, formalize it with a note about terms and then let it go. "Don’t bring it up at holiday dinners. Don’t give reminders. If you can’t do that, we suggest you not make the loan at all.”

Guarding against a default. Repayment is a bigger issue than ever (see above) but if you've been more generous than you can afford to be and this is money you absolutely need repaid, let your borrower--your grown child or other relative--know the financial reasons in detail. It helps to share why you need this money back, what it has been earmarked for, what setback you would face if the money isn't repaid. Nothing beats communications and transparency.

 Sibling rivalry's ugly head. Lending money to one child  may make the other feel left out, or loved less, or that their eventual legacy from you is being diminished. They may figuratively stomp a foot and whine, "It's not fair!" All kinds of ugly thoughts and emotions can rise up and strike our kids.  Which is not to say such behavior should be honored.  Instead, try a pre-emptive strike via communication about why you're doing what and how it will or will not affect the non-borrowing child. It won't hurt to mention the stress we are all under during this national crisis.

A grudge against your spending  habits.  If they're in need and have to pay you back--or if you decide not to help them out--resentments about how you spend your money can pile up. They may point an accusatory finger at your going on a covid-safe vacation or buying a new car.  What do the experts advise? It's your money to do with as you wish. But you might want to reassure them you're not going to let them starve.

 

 

Observation: Philip Galanes on keeping indulgent gifts to grown-up kids on the down low.

When our children were just starting their careers and in the midst of struggling to meet their rent, cell phone bill and car payments, we may have helped out--a car payment here, a refilled refrigerator there; dinner out or a new sweater in just the right color. If we could afford it, we enjoyed doing all that and maybe a little more.

But there comes a time when it's counterproductive, when it makes our grown children feel like they aren't independent adults.  In asking Philip Galanes in Social Qs what to do about parental overindulgence, a reader (a young woman in her 30s) described how it made her feel when her parents "keep buying things for me and my kids (groceries, toys, clothing) and refuse to let me pay for anything. I've told them we don't need gifts, but they ignore me. I feel awful."

Here's the advice Galanes handed out in how to deal with us--the parents who aren't giving our adult children the gift of acknowledging they are grown up and self sufficient adults.

Sit them down one quiet evening and say: “It’s largely thanks to you and your unwavering support that I’m in such good financial condition for my age. I hope you know that. And I think it’s time we put our relationship on more equal footing.”

Then, depending on your means (and inclination), buy them something you know they will appreciate: new winter coats, a gorgeous filet mignon from the butcher or a sunny weekend in Coral Gables. No need to become a spendthrift. Just try a loving gesture. It may wake them up to your well-founded gratitude and the true financial picture here.

This doesn't mean we can't pick up the check for dinner or surprise them with a beautiful sweater. It's just that it should be an occasional treat, not a habit.  And we should let them treat us occasionally too.

Money Matters: Two tips about lending money to adult children

You've heard it--I've said it--over and over: It's a tricky and emotional  business lending money to adult children. We want to be helpful--if we can afford it, and sometimes even if we can't. But we worry about why they are unable to manage on their own. That said, financial advisers speak as one  in saying that if you do lend money to your grown children, do it like a banker would: review their financials; set the repayment contract in writing.

Ah well. Seems like such a cold thing to do when it's your loved one. Michele Singletary, who writes a syndicated personal finance column, also hands out that "get it in writing" advice, but her recent column on the subject of loans to adult children made two points about that lending process that may clarify your perspective:

On the importance of reviewing their finances:

Upon review of bank statements, you may find evidence that your adult child is living above his means, such as eating out a lot. Don’t lend money to people who earn enough to cover their expenses, but can’t because of mismanagement. That’s not helping. That’s enabling bad behavior. Why should they enjoy the fruits of your frugality while they are living it up?

On the need to find out why they're tapping the bank of mom and dad for loans:

This is not about being hypercritical of their lifestyle. Just because there’s a request doesn’t mean there’s a need. Perhaps your adult child is underemployed. Maybe your daughter and her husband bought too much house and need to downsize. If your adult child is constantly asking for loans, there’s probably an underlying situation that needs to be addressed. Your handing over money all the time prevents this analysis.