To feel uncomfortable about this financial decision - or am I just a control freak?

[HazzaB]

I'm completely happy about how DH and I split our finances and what we each contribute. But we don't have any savings and that makes us both uncomfortable. DH's father, very kindly, transferred a studio flat into his name many years ago which we have recently sold. Profits from that sale are to be our nest egg for the future for our DCs - we're talking £15k. FIL has asked us to give him the £15k, originally because he needed to borrow it and would pay us back. Now he says because he'll invest it in stocks & shares and will be able to give us a better return than if we put it in ISAs etc. FIL is an ex-accountant but likes to fly 'below the radar' as he puts it and avoid tax. He has a criminal record from the 1970s for fraud. He's not clear about exactly what he'll do with this money or what our return would be. He says we can have it back whenever we ask for it. I want to just invest it as we decide even if that means less return. DH doesn't want to antagonise his father and says we should just give it to him because there's no way we wouldn't get it back and if his dad has asked us we should trust him. AIBU to feel uncomfortable about this? WWYD?

Yes, hope you manage to have a great treat too .

Cash gifts are limited to £3k per year but you may use the previous years allowance if it was not iused, so £6k is the limit for tax free gifts. Plus £5k for a son/daughter's wedding gift.

Hi,

If it was yours, and you've paid all the costs of selling it, can't you tell him sorry you've already tied it up in a long term investment?

or just give it to him, making sure you have all your costs reimbursed, and drop it. It's now his money, not yours and you want no part in it.

We get help from in laws (also accountants but the opposite - scrupulously honest in every way) but it makes me a little uncomfortable and I try to ensure that we're not relying on it and that life could run smoothly without it.

As others have said and you and DH have agreed, massively dodge and you're well out.

Out of £15k I'd pay off £10k on the mortgage if you can do that with no penalty, chuck £4.5k in a cash isa and spend £500 on something nice. Meals out, clothes, whatever.

Agree with others here saying don't give it to him. I'd tell him you've already put it into limited access accounts/bonds and hence couldn't get to it even if you wanted to.

Don't say what you intend to do.

Tell him you've already done it. All tied up, done and dusted.