Gifting money to your grandchildren can be incredibly helpful to help them get ahead in life. But, if they're always expecting a gift, or they aren't using it wisely, you might be gifting so much that they're starting to take it for granted.
If you think this is the case, Pak says there's one good way to make sure your gift goes directly where you'd like it to go: by gifting it directly into their accounts. Whether that's into an investment account or towards their college tuition, writing a check might not be the most effective way to get the money used for that goal.
To ensure that money is going where you'd like it to, ask your grandchild for information on their school, brokerage account, or other account. "Talk to the brokerage institution directly and ask, 'Can you share with me the various ways of transferring money?'" Pak says. Then, you can give the gift directly. "I think that's probably the safest route," he continues, "just writing the check directly to the institution."