As the holiday season progresses and the end of the year quickly descends upon us, many minds turn to the subject of giving. Grandparents in particular seek to bring joy to their grandchildren’s faces and enrich their lives at this time of year. Few things in life are as rewarding as seeing a child’s eyes light up when they get the gift they wanted, especially when you’re the one who was able to give it to them! What is arguably even more rewarding is helping to set our loved ones up for long-term success and ease some of the larger burdens they (or their parents) are likely to face as they grow up.
Giving cash directly to the children or their parents is how most grandparents approach this, but as soon as the gift is given, control is surrendered, and this can be problematic for some. Saving for college is one of the biggest concerns many parents and students have these days.
