I have given my son a gift of $10k.If I gift $10k to my grandson (9 yrs). Can this money be used for everyday expenses like food and clothing? Can the child gift this money to my son (the child's father) to essentially pay for these everyday expenses?Does this have to be specifically tracked (i.e. - put into an account for the child, whereupon he will make withdrawls for these expenses?)My goal is to more rapidly reduce the size of my estate.
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