My 43-year-old daughter was laid off from her job a year ago. She was driving a luxury car that she leased. The lease runs out next week. She has no money to buy another car, no prospects for a job & her unemployment is about to end. We offered to let her come back home after she sells her home. She refuses to do so, but she asked us to sell our 2003 car, buy a new one, and give the old car to her. What is your advice?

Answer

My rule with my kids is that if they are doing their best, I will help them. If you want to give her the car, keep the title and give her a month to get a job. If after a month she isn't making progress, take the car back. Also, I would have her pay you for the car, look up the book value on Kelly Blue book, do a contract. You can even file as lien holder on the title which gives you the right to take the car if she doesn't pay. The other option is not to give her the car. The choice is yours.

Updated on April 11, 2018

Original Article:

Adult Children—When to Help and When to Let Them Learn
By MD Jackson MSIOP
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