This is Edelman Financial Engines Everyday Wealth,

This is Edelman Financial Engine's everyday wealth

with award-winning journalist Soledad O'Brien,

personal finance expert Jean Chatsky,

and Edelman Financial Engine's wealth planner,

Jason Cowles.

So Jason, let's say I'm a grandma.

I've just had a grandchild now and I want to put some kind of gifting plan in place.

What are the first things that you would ask me that you need to know about me?

Well, the first thing I need to do is really understand the priority.

Is this a gifting during your lifetime or is this something that you say,

I want it to be there when I'm gone?

Second, I have to make sure I understand what's the dollar amount that you're thinking

that you're going to be doing over your lifetime.

Because if I have to be the dream killer, it's that you can't afford to give $10,000 a year for the rest of the world.

I'd rather have that conversation now to go, let's find the happy medium because I don't want you to do something

that's on a path that is not sustainable.

And then the third one is,

how many more grandchildren do you think you're going to have?

If this is your first one, you want to be equitable, right?

So if you give 10,000 to the first one,

and now you have 10 grandkids,

...