Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. She ...

The Uniform Gifts to Minors Act (:UGMA) or the more flexible Uniform Transfers to Minors Act (:UTMA) are custodial acts that parents or adults set up for minors. The purpose for doing so is largely to ...

The Uniform Transfers to Minors Act (UTMA) and Uniform Gift to Minors Act (UGMA) are unique taxable custodial accounts that help you save for your kids. While you can save and control these accounts, ...

Troy Segal is an editor and writer. She has 20+ years of experience covering personal finance, wealth management, and business news. Thomas J Catalano is a CFP and Registered Investment Adviser with ...

So you’d like to set aside some money for your children. Perhaps you want to build an early inheritance or, more likely, you’d like to get a jump on their college fund. In either case, you’ll want to ...

A UTMA or UGMA custodial account is a flexible investment account that helps minors save and invest. Many, or all, of the products featured on this page are from our advertising partners who ...

(MoneyWatch) One of my clients recently asked me if they should close out their UGMA (Uniform Gifts to Minors Act)/UTMA (Uniform Transfers to Minors Act) accounts in favor of increasing their ...

A custodial account allows you to open and manage an investment account on behalf of a minor, which can be used for wealth transfer or to help a child learn how to invest. Many, or all, of the ...

The custodian of the UGMA, by law, can only use the assets for the minor's benefit. But there is considerable latitude in this regard. Essentially, if you, as the custodian of your children's UGMA, ...

It’s my annual "Taxes from A to Z" series! For the series, I’ll focus on terms that you might see on your tax forms and statements but not necessarily in the headlines. If you’re wondering whether you ...

Fabric is a financial platform founded by Gerber Life Agency, a division of the Gerber Life Insurance company. Fabric offers financial products for families, including life insurance, wills, and ...