Kevin O'Leary: How I handle family members who ask for money and the one rule I always enforce

• Kevin O'Leary, or Mr. Wonderful, is an investor and entrepreneur. 
• He's established a rule for himself after many years of extended family coming to him for money.  
• He only gives his family members gifts — not loans  — and they never speak of it again. 

This as-told-to essay is based on a conversation with Kevin O' Leary. It has been edited for length and clarity.

I've been asked about what to do when family members come looking for money countless times. It's a very complex issue because you don't want to disvalue your brother, sister, or cousin.