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Is there any reason to save for your kids in an UTMA?
| zippy chrome lay azn | 06/16/24 |
| fuchsia school | 06/16/24 |
| thirsty cruel-hearted tanning salon ape | 06/16/24 |
| zippy chrome lay azn | 06/16/24 |
| thirsty cruel-hearted tanning salon ape | 06/16/24 |
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Date: June 16th, 2024 9:34 AM Author: zippy chrome lay azn 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: fuchsia school 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: thirsty cruel-hearted tanning salon ape 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: zippy chrome lay azn Ouch. Do you think that someday I can maek it brother? |
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Date: June 16th, 2024 11:00 AM Author: thirsty cruel-hearted tanning salon ape Sure, start earning money and stop being fat (http://www.autoadmit.com/thread.php?thread_id=5541454&forum_id=2Reputation#47751020) |