georgina
DIS Veteran
- Joined
- Apr 21, 2003
UTMA's - how easy it is to change owner really depends on who the account is with. The main reason I keep an account with a local bank is that we occasionally need Medallion signature guarantees. Last time was when we transferred our IRAs out of one firm to another.
529 money is controlled by the account holder not the child. We easily transferred money between our 3 kids, one DD just used them up for grad school. And there is never any income tax paid on them if used for education expenses.
529 money is controlled by the account holder not the child. We easily transferred money between our 3 kids, one DD just used them up for grad school. And there is never any income tax paid on them if used for education expenses.