Reply to Giving money to the grandkids when you don't speak to parents?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]TLDR: I'm in charge of my remaining parent's money since they have dementia. I will distribute some of this money to my own children and want to be fair and distribute to nephews and nieces but don't speak with their parents much anymore. What's the best way to let the adult children know about the gift? I would need their bank account and routing number to transfer the money to them.

Background:

1. Parent has way more than enough to pay for their assisted living and will never need Medicaid. 
2. Their financial advisor has approved giving these gifts.
3. We have maxed what we can give to adult children so now I am thinking it's time to share with grandchildren.
4. It's advantageous to give this money to reduce the estate taxes.

I do not speak much at all to the parent of the adult nephew and adult niece. They are college age, and I prefer to deal with them directly instead of their gaslighting, mentally ill parent.

Advice?
[/quote]

What do you mean by “in charge” of your parent’s money? You referred to yourself as an executor in a later post, but that doesn’t give you power over their finances while they are still living. Are there legal documents in place? Are you a trustee only? If you’re not the POA, who is signing off on distributing non-trust assets?  [/quote]

This makes no sense as you are not the executor until death so the parents should do this.  They are stealing money.  [/quote]

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