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I am looking to begin giving each of my two grandchildren around $5000 to $10000 a year.

I want to do this so they will have plenty of money for college, buying a house or ?. I also want to do this to avoid the estate tax my heirs will end up paying if I don't start giving it away now.

I understand that the tax laws regarding gifts of this nature are more complicated because they are minors. If I am also giving similar amounts to their parents, will the gifts be taxed as income for the boys?

Can anybody advise me or lead me to more information regarding gifts to minors?

Chuck O'Neil
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