Quote:
Originally Posted by PeanutButter
Lily likes my idea above, but Mike thinks all of the proceeds should be going into their joint account.
|
It would really depend on how they manage the rest of their finances.. do they combine their income, or do they split the bills/mortgage and keep their own private accounts, etc.
IMO, I'm going to treat them as married and I think the entire sum should go back to their joint account. The Mom doesn't get anything unless the original $20 was structured as a loan (but I assume it was a gift).
If they decide to gift the Mom back $20k, that's up to them.