Liz Weston on Personal Finance (Collection), 2/e

5. Family Money: Keeping the Financial Peace

Couples’ conflicts over their finances get a lot of attention. But our families can present equally thorny challenges as our (often troubled) relationships with our relatives collide with our (often troubled) relationships with money.

These can be stormy seas to navigate. It can pay to have a good compass—a strong sense of how you want to handle your money—and a good map of what you will and won’t do for your kin.

Here are some of the situations you might face, along with strategies for coping.

When Grandpa Reneges on Promised Money

Q: In 1985, my father set up a Uniform Gift to Minors Act brokerage account for my son. By 1997, my father had withdrawn all the money and put it back into his personal ...