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Is there any reason to save for your kids in an UTMA?
| Galvanic stage | 06/16/24 |
| Greedy Lodge Azn | 06/16/24 |
| laughsome headpube | 06/16/24 |
| Galvanic stage | 06/16/24 |
| laughsome headpube | 06/16/24 |
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Date: June 16th, 2024 9:34 AM Author: Galvanic stage I can’t see the purpose of doing this outside of some kind of trust setup. For normal mos it seems like the best thing to do is to just save education dollars in a 529 and put anything else into your own taxable brokerage than give that money to your kids when they are older. Am I missing something? |
Date: June 16th, 2024 9:47 AM Author: Greedy Lodge Azn UTMA is effectively a simple trust. You hold the assets as custodian for kid, aren’t allowed to take back. It’s a bad choice if you might need the money.
It can be helpful in a divorce (if you want kid to have money and not parent).
Otherwise it’s mostly about getting stuff out of your estate, which is not a serious issue for most people. |
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Date: June 16th, 2024 9:47 AM Author: laughsome headpube UTMA accounts are only for people who have money, you don't need to worry about it. (http://www.autoadmit.com/thread.php?thread_id=5541454&forum_id=2Reputation#47750945) |
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Date: June 16th, 2024 9:58 AM Author: Galvanic stage Ouch. Do you think that someday I can maek it brother? |
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Date: June 16th, 2024 11:00 AM Author: laughsome headpube Sure, start earning money and stop being fat (http://www.autoadmit.com/thread.php?thread_id=5541454&forum_id=2Reputation#47751020) |