Answer:
Starting 2019, the federal gift tax exclusion is $15,000 per children or grandchildren. That amount was supposed to be increased with inflation during 2020, but I couldn't find any new amount.
total tax free gifts = ($15,000 x 3 children) + ($15,000 x 4 grandchildren) = $105,000
The $105,000 given today will decrease the $11.4 million lifetime exemption allowed for estate taxes.
