Answer
(Fatwa: 919/540/L=1433)
On the occasion of Eid etc the relatives and friends give money to children or to their parents for them, these gifts are the property of the children. The person who gives it his intention is purely to give to the children. This money is a trust in the hands of parents for children. It is not correct for them to spend them for the parents in their personal needs. It should be spent in the need of children not for the use of other children. Whatever money your relatives give to your daughter you should spend it on her. This money is a trust in your hands. You should not use it in your need.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband