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Reply to "Trust for kids from grandparents: How should I handle it?"
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[quote=Anonymous]I don't think it's really worth the effort to put a few hundred thousand into a trust. What I'd do is power fund a 529 for each child - $75k to each. You can now pay $10k in private school tuition from a 529 plan. If kids are young enough, and funds allow, you can do this again in 5 years' time. Keep the remainder to apply to camps, tutors, etc. as they grow up. from the interwebs: you can make a lump-sum contribution to a 529 plan of up to five times the annual gift tax exclusion ($75,000 in 2018), and completely avoid federal gift tax, provided no other gifts are made to the same beneficiary during the five-year period.[/quote]
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