Reply to Inheritance/gift to child and spouse or just child?

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[quote=Anonymous]My father expressed that he would like to gift $ to my kids for their education and also cash gifts up to IRS gift limit to my sibling and I (unclear whether this is one time or over a series of years) with the idea that the gift would be made joint to each sibling and their spouse. I was asked what I thought about that and my gut reaction was to make the gifts sole gifts to me and my sibling. My logic is if I am still married and something happens to me the gift/inheritance money goes to my spouse if spouse is still living and we are still married, or to my kids. I mean, I guess I can spend it on just me and it's gone, but that's just kind of the risk you take as the benefactor?

I see the other side too - that as the in-laws you don't want to be creating a division between spouses, but I just think it has the potential for weirdness and that the spouse should understand in that it's natural for parents to gift to their children and generous to include the spouse.

What do you think?[/quote]

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