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

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[quote=Anonymous][quote=Anonymous]my grandmother has been giving myself, my wife and my daughter  the max allowed by the IRS every year for quite some time. and she set up a 529 for my daughter.

Her rationale,  "I'd rather be able to see you enjoy it and not be taxed on it"

And its possible when she dies,  she could will money to all three of us, plus my parents plus others.  Or she could see fit to only will money to her children.

I guess all you folks must have shitty marriages to even consider hoping that an  inheritance or gift is only  "for you"  and not to be shared with your spouse..

[/quote]

it's not a matter of shitty marriages. marriages can last but sometimes they do not. whoever makes the gift should know that if the gift is given to the spouse it belongs to the spouse only, even if the spouse six months later decides to divorce and move on. if this is ok, then go for it. otherwise make the gift to the child only. child will share with his/her own family but it will be his or hers.  the parents of a friend, wealthy, donated an apartment to their son in law and he left the daughter a few months later, entering into a relationship with a divorced woman with kids. the daughter was totally blindsided by the split. parents of the friend were not happy, they certainly would not have given an apartment as a gift to him unless he was married to their daughter. [/quote]

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