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Financial Planning / Paying For College


Subject:  Re: Parent vs Child Assets Date:  8/10/2001  9:43 AM
Author:  YZF1K Number:  4186 of 8558

japper wrote:
One final comment as this thread grows: your child must be of legal age in your state in order to gift money to anyone.

So my daughter could give Grandma a Christmas present paid for with her own money (I presume this is still legal), but she couldn't just give Grandma the money? How about if she gave Grandma $10,000 worth of CD's (the music kind) but Grandma returned the gifts and pocketed the cash and decided to use it for her granddaughter's education?

-- Mark
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