Recent content by reverbn

Although I have issues with my wife (my son’s mother) and are planning to divorce, we are not yet divorced or separated. My son lives with her mother. If I give that $10,000 cash to her as a gift to my son, will that gift be LEGALLY counted as my gift to my son, or whether we are required to...

Many thanks for all the information. To make sure I am correct, I can do either of the following (of course, giving cash directly to child is not advisable as the child can spend that money; similarly, giving cash to a relative on behalf of the child is not advisable as the relative can spend...

My apologies, the child lives in Florida. I am also moving to Florida next month. To avoid confusion, I changed the state to Florida in my earlier posting.

What is the name of your state? Florida I want to give cash gift $10,000 to my 14 year old child. I read https://www.investopedia.com/terms/u/ugma.asp that “UGMA accounts can be opened through a bank or brokerage institution…. the assets are usually placed in UGMA accounts on behalf of minors...