UGMA Custodial Accounts legally belong to the child, so earnings are typically taxed at the child’s rate, which is usually ...

Giving young children financial gifts is a great way to help them with the expenses they’ll face as they age. However, cash ...

Two popular options emerge in this landscape: UTMA/UGMA custodial accounts and 529 plans. While both serve the purpose of ...

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 ...

Parents, grandparents and others who wish to invest in the future of a child they love are often drawn to the idea of opening UTMA custodial brokerage accounts to provide a financial head start.

Gifts to children can come with tax strings. To keep your child's gift growing and avoid tax bills for yourself along the way ...

"It's important to note that UGMA accounts are available in all 50 states, but UTMA accounts are not available in South Carolina or Vermont," Steeno says. The age of majority may also differ ...

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"However, I like your idea. I have to tell you, I would open up a Uniform Gift to Minors Act account." Opening a UGMA account would allow Hazel, with her parents' help, to invest her earnings in ...