UGMA and UTMA Accounts—Understanding the Benefits and Drawbacks
Minors typically can’t own assets in their name; however, states have adopted laws that allow a custodian to hold assets for a minor until they become an adult (usually 18 or 21, depending on where you live).
Money Girl · Macmillan Holdings, LLC
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Show Notes
Laura answers a listener’s question about investing for a young child and reviews the pros and cons of UGMA and UTMA accounts for minors.
Money Girl is hosted by Laura Adams. A transcript is available at Simplecast.
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