Most people don't think twice before writing a check to their child or grandchild. Then tax season rolls around, or the financial aid letter shows up smaller than expected, and suddenly that generous gesture comes with strings nobody warned them about. None of this is because the IRS is trying to trip people up. It's [...]

A grandparent opens a brokerage account for a grandchild, drops in some long-held stock, and feels good about it for the rest of the afternoon. That's usually where the story stops, at least in the version people tell themselves. What actually happens next, once dividends start showing up and the account eventually gets sold, is [...]