Two popular options emerge in this landscape: UTMA/UGMA custodial accounts and 529 plans. While both serve the purpose of accumulating funds for educational purposes, they differ significantly in ...

Much of what is discussed here also applies to UGMA (Uniform Gift to Minors Act) accounts, but for the purposes of this article, we’re focusing on UTMAs. Profit and prosper with the best of ...

Best investment accounts for kids Teen-owned brokerage account 529 college savings plan Coverdell education savings account Custodial Roth IRA UGMA or UTMA custodial accounts Who's this for?

You may also see custodial accounts described as UGMA/UTMA accounts. This is based on the Uniform Gifts to Minors Act or the Uniform Transfers to Minors Act — the legislature that allowed for ...

Such a custodial account can be established under the state’s Uniform Transfers to Minors Act (UTMA) or the Uniform Gifts to Minors Act (UGMA). Profit and prosper with the best of expert advice ...