Investing for a Child: UGMA/UTMA Accounts vs. 529 Plans

UGMA (Uniform Gifts to Minors Act) and UTMA (Uniform Transfers to Minors Act) accounts allow the transfer of financial assets to a minor without establishing a trust. (UTMA and UGMA accounts are basically the same, with UTMA accounts allowing for the inclusion of additional asset types, like real estate. Most states replaced their UGMA statutes …

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