UTMA, UGMA and 529 Plans Compared

[@ACapReCap]

ACap will not respond to comments seeking tax or financial advice. Please consult a CPA or CFP who is familiar with your individual circumstances.

[@mmchang782]

very useful information, Thank you!

[@michaelbetanzos6172]

Fantastic video - thank you!

[@ACapReCap]

Thank you. Glad you enjoyed it!

[@tonybelleo1895]

I chose the utma

[@zacdeen27]

Say I wanted to invest money in an account for my children that I own but plan to allow a group of trusted friends & family to approve or deny what the funds are used for. The idea being that if our kids don’t want to go to college or tech school however they show potential and responsibility, they could pitch their idea to the “board” of friends and family to approve or deny. Is there a certain type of investing account for that theoretical idea?

[@markstone6263]

sounds like you would want to set up a revocable living trust to create something that specific

[@t.g.c9311]

couldn't you technically get the kids to sign power of attorney over to you at 18 anyway and maintain control over the account?

[@peerguy]

You could. Essentially the kids would make you the custodian, if they choose to do so

[@HarringtonBartholomew-u9d]

Lee Laura Young Deborah Clark Jose

[@GallacherAndrew-x7c]

Rodriguez Jessica Harris Anthony Martin Michelle

[@carolinapm508]

Very informative. Thanks for the info

[@ACapReCap]

Thank you!