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Is there a way Grandma can contribute to her grandkids(2)education or lifestyle that can benefit her and the kids now instead of an overtaxed semi-windfall later??

Not that she asked me, but Grandma should hang on to her money. My parents always thought they'd have more than enough, and they now find themselves needing 24-hour care. Old age can go through a lot of money in a hurry.

Be that as it may, the benefits to the kids of money from Grandma is pretty obvious, but aside from the personal satisfaction, there's nothing like tax savings that Grandma gets out of it. She should also keep in mind the $10,000 annual limitation on gifts free of gift tax.

Phil Marti
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