See Kristen A. Curatolo & David A. Handler, Help—My Child is About to Receive a Windfall!, Trusts & Estates Magazine, Sept. 2021 (“Internal Revenue Code Section 2503(c) provides an option for annual exclusion gifts made for minor children by creating an ‘irrevocable minor’s trust.’ In such a trust, there’s no annual withdrawal right; instead, gifts for the minor child qualify for the gift tax annual exclusion if the child has the right to withdraw all of the trust assets at age 21. But those trusts, and similar custodial accounts, can balloon to astronomical values. Read about solutions for oversized trusts and custodial accounts for minor beneficiaries.”).