Is an UGMA or UTMA account better than a 529? Comparing UTMA or UGMA accounts with 529s or Coverdell education savings accounts (ESAs) can help you narrow down the best option for your...

May 16, 2025 · Two common options are Uniform Gifts to Minors Act (UGMA) and Uniform Transfers to Minors Act (UTMA) accounts. Both allow adults to transfer assets to a minor without setting up a …

The state legislation that allows for gifts to children is the Uniform Gifts to Minors Act (UGMA) or the Uniform Transfers to Minors Act (UTMA). One or both of those acronyms are often associated with …

This guide explores custodial account types (UGMA and UTMA), tax treatment under kiddie tax rules, contribution limits and gift tax implications, state-specific age of majority requirements, and key …

Sep 10, 2024 · In this article, we explore UGMA and UTMA custodial accounts. While the tax benefits aren't as generous as 529 plans, these custodial accounts can be used for a wider range of needs.

Mar 17, 2023 · Established in 1956, UGMA Accounts are the oldest form of custodial accounts with tax benefits. UTMA Accounts were established in 1986 and are a special flavor of UGMA.

May 9, 2025 · Learn what a UGMA account is, how it compares to a UTMA account, their tax benefits, financial aid impact, and how they differ from 529 plans.

Dec 2, 2025 · UTMA vs UGMA Accounts: What's the Difference? UTMA (Uniform Transfers to Minors Act) and UGMA (Uniform Gifts to Minors Act) accounts are custodial accounts for minors, with …

Nov 5, 2025 · Discover the key differences between UGMA and UTMA accounts, how they help save for a child's future and which one may be right for your financial goals.

Feb 23, 2025 · These financial accounts come in two types: UGMA and UTMA accounts. Uniform Gifts for Minors Act Accounts and Uniform Transfers to Minors Act accounts both protect assets from a …