UTMA/UGMA Basics
UTMA/UGMA custodial accounts let you invest for a minor. The assets belong to the child and transfer at the age of majority.
Pros
- • Flexible use (not limited to education)
- • Teach kids about money with real ownership
Considerations
- • May count against financial aid
- • Child gains control at age of majority
Educational content only. Not investment or tax advice. Consult a professional for your situation.