I want to give my parents a large sum of money. Any implications? Details inside.

I’m getting poorer by the day as I was laid off and eating through my savings. I don’t have any debt. Before I do, I want to use a portion of my savings to gift to my parents to put towards some medical purchases for my mom. It would be to the tune of 20k. Likely transfer from my acct to my parents’ at the same bank.

I’ve never done anything like this before, so I just want to know if there is anything special I need to know.

My parents lent me 30k in the past (which I paid back a couple weeks later), but that’s the only time we’ve moved a large sum.

Thanks!