Expensive Dave,
I’ve an uncle who desires to reward some property to certainly one of his sons, myself and my sister. The property is about two-and-a-half acres, and it’s in all probability price round $125,000. My spouse and I are attempting to repay debt in Child Step 2 of your plan, and we’re undecided how we really feel concerning the state of affairs. What do you assume?
Dave
Expensive Dave,
In case your uncle requested me if he ought to do that, my reply could be no. The factor is, you’ve obtained three totally different units of individuals with totally different lives and really totally different conditions. Not solely that, however these three potential co-owners in all probability have differing concepts concerning the land and what ought to or shouldn’t be finished with it. To me, the entire thing appears like an enormous household struggle simply ready to occur.
If I had been in his sneakers, I’d simply promote the property and cut up the cash equally between the three of you. It’d be loads simpler that approach, and also you’d keep away from the prospect of arduous emotions between you and your family members down the street. Don’t get me improper, your uncle appears like a sort and beneficiant man. He’s making an attempt to be a blessing to all three of you, however it has a really actual risk of inflicting unintended issues he could not see coming.
That’s the way in which I’d deal with it, Dave. A few acres of dust cut up between three folks isn’t price all of the squabbles and unhealthy emotions it might trigger.
— Dave
Dave Ramsey is an eight-time nationwide bestselling creator, private finance professional and host of “The Ramsey Present.” He has appeared on “Good Morning America,” “CBS This Morning,” “At present,” Fox Information, CNN, Fox Enterprise and lots of extra. Since 1992, Dave has helped folks regain management of their cash, construct wealth, and improve their lives. He additionally serves as CEO of Ramsey Options and is the creator of quite a few books together with Child Steps Millionaires: How Atypical Individuals Constructed Extraordinary Wealth–and How You Can Too.
