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The Ramsey Show Highlights

My Ex Is Asking For His Son’s College Fund Back

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 28 September 2024

⏱️ 4 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

brought to you by the every dollar app start budgeting for free today today's question comes from

0:07.3

alissa and pennsylvania oh never mind it's courtney and iowa we had two i'm going to go with

0:11.9

courtney and iowa final answer uh she she asked my ex-husband and i received a large inheritance

0:16.9

during our marriage and set aside college money for both of our children. Now my ex is financially

0:22.3

strapped and has asked our youngest son for his college fund, which he didn't end up needing to fund his

0:27.3

education. Our son is 24 and getting married soon, and I trust he will use the money responsibly.

0:32.8

I can't believe my ex has put our youngest son into a terrible position. Is our son morally

0:37.3

obligated to give his

0:38.4

father this money? Short answer, I'm going to say no. There's no moral obligation. There's no

0:44.2

legal obligation. No. I have questions, though. I mean, my first thought is, okay, the parents

0:51.9

put the money aside for the kids in the 529 they list the child

0:56.6

as the beneficiary unless there was a discussion that was like hey if you don't use this money

1:02.8

it goes back to us and they change the beneficiary back to themselves or the wife or whatever

1:08.9

I don't know but if it's still in the son's name,

1:12.5

I'd be like, this is my money. Or, I mean, he's about to get married. How cool it would it be to

1:17.1

change the beneficiary to their kid? That's what I'm saying, yes. In a year or two or five,

1:20.7

or whoever. You know, I think that's, and part of this is we're enabling this ex's bad behavior for a grown man to just suddenly be

1:28.2

financially strapped and he to rob his kid's college fund tells me a lot about the character

1:32.4

of this person right because a 529 is a gift like is you gifting the gift of education to your

1:40.0

well the confusing part is this came from a large inheritance during their marriage that they then set aside in a college fund.

1:47.2

Yeah, but still, even if they had worked to save the money, you know, it would still be money that they earmarked and said this is a gift to our kids for their education.

1:54.7

So in many ways, it does feel like revoke, like, like turning around on a gift.

...

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