There will be about 5 people that I will give gifts to. These people are a regular part of my life, and invest themselves in my life, and act like they really care about what my thoughts or feelings are. Each person I will give a gift money to will have a checking account opened in my name on their behalf. When my friend needs money, they will call me up, and tell me what they need the money for, and how much. I will obviously have a say in whether that will be provided or not. For example, if my friend is on SSI, and wanted the money to buy a house, I will decline and explain that they will not be able to handle the taxes of the house they will wish to buy. However, if that same friend wants a new automobile, I will be open to that. I will even go with them and make the wire transfer from the account that is intended for their gifts and into the dealer’s account. That person on SSI will have to sell her current automobile immediately since they would only be allowed 1 automobile by Social Security’s requirements.
The reason for creating separate bank accounts for each person is to make sure they receive the full amount I wish to give them. Once that account has been depleted, then they will have no more money, and I will close the account. This will provide a means to assure that everyone gets what they deserve, and they can choose what to do with the money. If anyone that would receive my gifts has a mortgage, I might even just make a full gift payment to their mortgage saving them money on interest charges, and reduce the term length of the mortgage.