Podknife - UGMA and UTMA Accounts—Understanding the Benefits and Drawbacks by Money Girl's Quick and Dirty Tips for a Richer Life

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UGMA and UTMA Accounts—Understanding the Benefits and Drawbacks

Podcast |: Money Girl's Quick and Dirty Tips for a Richer Life
Publisher |: Quick and Dirty Tips
Media Type |: audio
Podknife tags |: Business,; Investing,; Personal Finance
Categories Via RSS |: Business,; Education,; Entrepreneurship,; How To,; Investing
Publication Date |: Jul 26, 2023
Episode Duration |: 00:20:03

Description
iTunes Summary

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. girl.simplecast.com/episodes/ugma-and-utma-accounts/transcript">A transcript is available at Simplecast.

Have a money question? Send an email to money@quickanddirtytips.com or leave a voicemail at 302-365-0308.

Find Money Girl on Facebook and Twitter, or subscribe to the newsletter for more personal finance tips.

Money Girl is a part of Quick and Dirty Tips.

Links: https://www.quickanddirtytips.com/https://www.quickanddirtytips.com/money-girl-newsletter https://www.facebook.com/MoneyGirlQDT https://twitter.com/LauraAdams https://lauradadams.com/

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).