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Subject:  Re: funding grandkids college Date:  9/13/2009  4:06 PM
Author:  SeattlePioneer Number:  15660 of 22292

<<Husband acknowledges their need is greater, but thinks we should keep the equality rule. >>

You pose some interesting questions. I'll be glad to see the comments that are posted.

Personally, I have no problems playing "favorites" as you describe, especially if you can't afford or aren't interested in making equal gifts to all.

Helping out those whose need is greatest is a good reason to help those two children, in my view.

Putting the money in their name is probably a mistake, since it gives them an opportunity to spend the money frivolously. Also, it's always possible one may not survive to adulthood or may choose something else other than college.

On the other hand, trusts for relatively small amounts of money can soak up a lot of expenses as the years go by.

In my own case, I planned to contribute money towards the school costs of my two nephews, but my brother refused the offer two years ago and this year, saying that he and his wife were able to and preferred to fund my older nephews schools themselves. He left open the possibility that they might find such a gift welcome next year when they will have two in college.

So you never know.

Seattle Pioneer
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