daveramsey.com
Real life, love and money with America's most trusted money guy.

Highlights from the Dave Ramsey Show

Brought to you by MyTotalMoneyMakeover.com
Where you can get budgeting tools and The Dave Ramsey Show commercial-free!

Miss a show? Check out Dave's featured call of the day—the most inspiring, entertaining, or exciting call from the show daily. Browse through the categories to locate calls by topic. Also, read through Dave's quote of the day—a Bible verse or inspirational quote that is sure to motivate you.

commercial-free
Want More of The Dave Ramsey Show?
Listen Commercial-Free at MyTotalMoneyMakeover.com
budgeting made easy

My Total Money Makeover

Where you can get budgeting
tools
, content, and The Show
Commercial Free!

Blake's Bumps for 09.01.10

Against Me! New Wave

INXS What You Need

John Mellencamp Pink Houses

Lenny Kravitz Fly Away

Red Hot Chili Peppers Give It Away

Stevie Wonder Superstition

311 Prisoner

Arcade Fire Keep the Car Running

Death Cab for Cutie Soul Meets Body

Did Dad Do Her Wrong?

Question: Karen in St. Louis lost her father this year. Karen and her husband owned their own business 20 years ago, and it failed, causing them to go bankrupt. Karen's father loaned them money to keep the business going. It was included in the bankruptcy, and her father didn't accept that. He's deducted it from Karen's inheritance. Karen feels that's wrong. Is she?

Dave Ramsey's advice: Legally, he doesn't have to leave you anything in his estate. Legally, he gets to choose how much he can leave each of his kids and leave them different amounts. He left an equal share minus what you still owed. You're wrong. If he just decided he wanted to leave a different amount to each kid, that's his choice. It's his money. It's a little weird to decide that--obviously. Most people divide it up. But I'm aware of lots of estates where a kid gets nothing. It's not unusual at all for something like this to occur.

This was between you and your dad. You felt like the bankruptcy should have wiped off the debt. He felt like family was thicker than federal law, and you should have paid it anyway. That disagreement was never settled while he was alive. It was settled because he took it out--minus interest--from your section of the estate. You got the money. The money's in your hands. You just lost it, and I've lost money, too, so I understand that. It's not a fun thing.

It was his money to do with as he wanted. You certainly don't have any legal grounds to stand on whatsoever. Emotionally, he gave you the money, and he has the right to set the terms on that. That's one of the dangers in family lending. Your relationship was damaged the entire rest of the time. He felt like he had a kid that was a deadbeat. That may be overstated, but that's basically what he was saying.

I understand your frustration, but you feel like he took something away from you that was yours, and my point is it was never yours. It was his. It just hurts, though. It leaves a scar. It's one of the reasons you never borrow money from relatives under any circumstances. The best of intentions ends up in places like this right here.

Hear the call!

Download Dave's show, commercial free, right here!

Podcast Dave's show!

Quote of the Day 09.01.10

Most people never run far enough on their first wind to find out if they've got a second. Give your dreams all you've got and you'll be amazed at the energy that comes out of you. — William James

More Entries

Close Links