There will be a number of people that would receive a gift cash balance from me. Since this will be a gift, they shouldn’t have to pay taxes on it. If they are in debt, then that I will seek to wipe their debt off as much as possible. If the debt is smaller than the gift, then they will get cash for the remainder. This will make their lives easier especially if I make a significant hit on their mortgage. For those without any debt, or the debt is relatively small, I will create a checking account in my name, but on their benefit. If they need a significant purchase, they can call me, and I will say yes or no. The only reason I will say no is if it is a terrible financial decision that would only harm them. I will also explain how I came up with that decision.