Opening a Savings Account in someone else's Name

Sea_Shell

xylophone wrote: »

You make regular gifts from income to your son so why not just do the same for your daughter?

This...

It would appear that you can afford to give to both, as that's what you are asking about doing, but just give your daughter the money now, either as a lump sum (equal to what you've given your son, or monthly as you do for him.

For all you know she might have a really good need/use for the money now, that you're not aware of. Just because she might not appear to need your immediate help, doesn't mean that it wouldn't be welcomed and appreciated.

Also, what if you have no money left by the time you pass? You won't have anything left to leave your Daughter in leiu of early gifts....that could cause more resentment down the line.