100% service connected senior parent is tax exempt. If that parent wants to give money to his adult children now, instead of waiting until he passes... 1) is there a limit to the amount he can give to each of his children, 2) would his children need to pay taxes on that cash gift?

amfg1959 - what country's taxes are you referring to?

Assuming you are in the United States, the annual gift exclusion is $13K per recipient of the gift with NO tax issues whatsoever.

If you give MORE than $13K, then you have some filing requirements, but likely will have to pay NO gift taxes.