I live, write, and garden in the PNW with my husband of 28 years, disabled daughter, adult son, and my 84-year-old mother. We have paid off $250,000.00 worth of debt (if you include the interest) in the last fifteen years and as of 6/12/2020 are 100% DEBT FREE!!!!My mother-in-law says she is going to pay my daughter's medical bills. I burst into tears on hearing that. I was so worried about this and that it would have completely wiped us out financially. I am so grateful that FIL left her so well provided for. With the value of the house she's just barely a millionaire. Without it, she's a 3/4 millionaire. So she can definitely help her kids and grandkids. And she has FIL's pension for life, plus social security, which covers all of her monthly bills and leaves her with about $900 a month leftover, so helping us won't put her in a bad way at all. They are making her take a distribution of $16K from the 401K, so she has the money available to do this without even breaking a sweat.
Our out of pocket costs are capped at $4500, which is more than we currently have in savings. It isn't so much that I would feel awful about her paying this. I don't feel bad about her paying as this is a gift she wants to give her granddaughter, but if it were $10K to $20K, I'd really hesitate. I am pretty sure she will be helping my pregnant niece with her medical bills as well and my other niece with living costs as her baby's father is out of the picture due to addiction issues.
I am just so grateful she has the resources and the heart to do this for us. I have always thought that I lucked out with my parents-in-law. We were always happy to help them with whatever we could, driving them to appointments after FIL couldn't drive anymore, taking MIL to do all the legal stuff after FIL died, doing yard work, helping with Christmas lights, taking her shopping, etc. Now MIL is able to help us back and wants to.
I really thought this was going to bury us. It is just such a relief to know that it is not.
Relief
June 7th, 2018 at 10:13 pm
June 7th, 2018 at 10:47 pm 1528408055
June 7th, 2018 at 11:30 pm 1528410607
June 8th, 2018 at 12:11 am 1528413085
June 8th, 2018 at 04:12 pm 1528470720