Thinking of giving assets to a special child or grandchild?  While making lifetime gifts of $10,000 per year to your family members is a great way to reduce gift and estate taxes, making a gift of cash to a minor may be a ticket to frustration.  The recipient may use the funds in ways you would never have expected.

You may want to consider creating an education trust for the benefit of your child or grandchild. That way, the money is removed from your estate, but you can be sure it will be put to good use.