Grandparents who give gifts to their grandchildren do not always take everything into consideration that they should before making the gifts.
Grandparents normally have a strong desire to take care of their grandchildren. They want to make sure that the grandchildren have everything they need. Often this means that grandparents will make ill-advised gifts to the grandchildren. There are some things that need to be considered to make sure that any gift you want to make is appropriate. In an article titled “Six Things to Consider Before Making Gifts to Grandchildren,” JD Suprapublished a list of things to consider.
The list includes:
The above list is not exhaustive. There are many other things you might want to consider before making a gift to grandchildren. Talk to an elder law or estate planning attorney about gifting and how it can fit into your overall estate plan.
Reference: JD Supra (September 4, 2014) “Six Things to Consider Before Making Gifts to Grandchildren“
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