1) Fabulous, what a present, one that should last for generations benefiting people for decades or hundreds of years. It can provide a mix of benefits, ornamental, assist wildlife, screening, commemorative..... It should last much much much longer than other presents.
2) Please ensure you select the right tree for the right place, otherwise the tree will become a burden for others. Seek advice from an Arborist.
3) Ensure that the tree will be planted correctly and cared for until established, (the point at which it can look after itself, as it's root system has grown to that of a natural tree (as opposed to a nursery grown tree). Please peruse the following link, which outlines most of the considerations and is applicable to all trees, not just memorial trees.