Yes, Jimmy Swaggart does have grandchildren and great
grandchildren. As of May 2014, he has 3 grandchildren and 6 great
grandchildren.
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Grandparents can purchase gifts for their beloved grandchildren
by visiting any Toys r Us store in any big city in the U.S. or
Canada. One can also purchase gifts online at Amazon and eBay.
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The common ancestor is your parents.
Your children and your sister's children are first cousins.
Your grandchildren and your sister's grandchildren are second
cousins.
Your great-grandchildren and your sister's great-grandchildren
are third cousins.
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They're step-grandchildren.
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The possessive form of the plural noun "grandchildren" is "grandchildren's".