[Sg] - EDMWer gas a family financial situation and seeks your opinion

[UltimaOnline]

EDMWer

HushiePuppies​

A sum of money belonging to whole family that was managed professionally by one of the 1st generation uncle. Uncle will take out 50% of the annual returns for our CNY celebrations, Mid Autumn Celebrations, or if anyone urgently need cash can borrow from him. The other 50% put back to invest.

Recently, 1st gen uncle passed on so 2nd gen (son of uncle) take over. Extended family have whole family discussion to see who take over and what to do with the monies.

Number of people in each gen:

• 1st gen = 12 people (23 if include spouses)
• 2nd gen = 34 people (52 if include spouses)
• 3rd gen = 7 people (oldest 15 years old, youngest 2 years old)

The managed money is supposed to help pay for gatherings, help out any family member that have financial need and basically not touch it unless needed. But rest of the family members especially 2nd gen feel it's a waste to have the money sit there while some of them, the less rich ones, feel they are excluded from the benefits. Also, the DINKs and singles 2nd gen feel the money keep for future gen is waste because they not intending to have kids.

If you, what you do?