When to give to children
March 15, 2021
I’m Miriam Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, and we’re here to talk about money
M As we become generous with what God has entrusted to us, one question is ‘When do we give to adult children? Currently one can give $15,000 to each child, their spouse, and grandchildren. These gifts may reduce later inheritance. This has certain advantages.
V You do your giving while you’re living so you’re knowing where its going. You get to see how that money is used. Do they repair their living space, or go to Vegas for ‘fun?’ That recipient may make some mistakes and learn from those. That’s better than later getting a larger sum and making bigger mistakes.
M Yes, you can give to a specific need they have. But beware the ‘strings attached’ gift. That’s not really a gift, its an expectation.