Reply to Tax Advantaged things grandparents can do for grandchildren

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm lucky in that my parents are well off.  I'm not sure how much money they have but I know they have planned for paying the estate tax so it's above that amount.  I just had a child, my parents' first and possibly only grandchild, and my father would like to discuss what he can do for his grandchild financially.  I'm sure he already has a plan, but before we talk I'd like to have some idea of options.  It's just hard for me to research right now because I'm very sleep deprived with a newborn! He gives my siblings and me the annual gift tax exclusion amount in a trust so I assume my child would get that as well.  I also know grandparents can my for their grandchildren's school directly and not have to worry about estate tax.  What about daycare?  Anything else?  I've also received quite a few checks from family for my child and I need to figure out what sort of account to set up for her to deposit them.  Please help out a sleep deprived new mother! TIA. [/quote]

start funding their ROTH ira early [/quote]

you cannot fund a Roth IRA until the kid has earned W2 income (or declared income)
But that is a good thing to do once they have a job.  Gift them $$ to fully fund their Roth and 401K (once in a job with 401K)
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