Family Feud Over College Fund: Who Gets to Control the Cash?

Picture this: You’re a doting aunt to two adorable little ones, and you’re concerned about their future. Their parents aren’t exactly financial wizards, and you’re worried about the kids’ college fund. So, you come up with a brilliant idea – why not start a savings account for them? But wait, there’s a twist. The parents aren’t too thrilled about your plan to be the sole owner of the account. Drama ensues, and you’re left wondering if you’re in the wrong. Let’s dive into this intriguing tale of family, finance, and future planning.

Aunt’s Concerns About Niece and Nephew’s Future

Aunt’s Bright Idea: College Fund Instead of Toys ➡️

The Proposal: Aunt as the Account Owner

Family’s Reaction: Not So Happy

Aunt’s Response: Open Your Own Account ‍♀️

Why the Aunt Doesn’t Want Shared Ownership

Aunt’s Fears: Money Drain and Lack of Contributions

Aunt’s Goal: Ensuring Money is Put to Good Use

Family’s Solution: A Single College Savings Account

Aunt’s Response: Savings Bonds Instead

Family’s Reaction: Not Trustworthy?

Name-Calling and Accusations Fly ️

Aunt vs. Sister: The College Fund Conundrum

So, here’s the deal: an aunt, worried about her niece and nephew’s financial future, proposed a college fund with herself as the sole account owner. However, her sister and her boyfriend didn’t take kindly to this idea, suggesting that the aunt didn’t trust them and was planning to run off with the money. The situation escalated, with the boyfriend resorting to name-calling and the sister labeling the aunt as the villain. Now, the aunt is left wondering if she’s really the bad guy in this family financial feud. Let’s see what the internet thinks of this situation…

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NTA, start the account secretly and don’t tell anyone until kids are older

“NTA and don’t hesitate to own your reason: ‘No, I don’t trust you, not even a little bit. I’m not obliged to give your children anything, however if I do decide to contribute to their future, it will be under my terms and within my control.’ Make no apologies. Furthermore, never give your sister or her partner the slightest hint of the value of your savings. The guilt of ‘we need that money now’ is not worth it. Keep your answers neutral with ‘that depends on the value of the fund’ or ‘it’s a surprise for kid when they come of age'”

NTA: Keep control of the cash and protect your kids.

“NTA. People project their crap onto others. Open the account!”

Sibling trust issues? NAH. Let’s talk about investing strategies!

Divorce ignited by money problems, but finding closure brought relief.

Protect the college fund! Don’t trust your sister!

Engaging comment and replies about college fund options and limitations

Trust your gut and set up your own account!

Take control of the college fund and protect your nieces/nephews!

Secretly open a college fund to protect the money

NTA, take control of the funds and protect the kids

Aunt stands up for niece’s savings bonds. NTA.

Smart move! NTA. Open a savings account for their future

Generous NTA wants to surprise nieces/nephews with college funds

NTA – Protect the college fund from potential draining. Set up a separate savings account for the kids later.

Parents accused of stealing college fund.

Maintaining control of a gift for niece/nephews. Financial security matters.

Supportive uncle defends OP’s decision to control college fund

NTA: Keep control of your money, avoid entitled reactions.

Sneaky move! NTA suggests letting them think they’re solely responsible

“NTA – Grateful for a college fund? Say ‘thank you’! “

Trust issues over college fund, but is it really mean?

NTA. Keep financial info private. Parents scheming for the money.

Suspicious about opening a savings account? What’s their plan?

NTA. Take control, start the account, and ignore their begging.

“NTA You know they want the money. They know they want the money. If they won’t stop pressing it and since her BF is (yeah right) under the impression that you want to drain the account look him in the eyes and say ‘Never in a million years will anybody but me and the kids touch the money **I** set aside to invest for them. Nobody else gets to decide what to do with **my** money and it is **my** money until the kids come of age.'”

Accused of wanting to steal college fund, but NTA!

NTA. Take control of your money, open separate accounts.

Sibling feud over college fund, but NTA for protecting kids