Secure your child’s future……
With kids, the only thing that worries you more than today is tomorrow. As you handle today, you can relax about tomorrow with a Uniform Transfer to a Minor Account (UTMA). An UTMA lets you create an account in a child’s name while making sure they don’t spend it on the newest video games or a closet full of clothes they’ll only wear once.
As the custodian, you can add to or withdraw from the account for the child’s benefit at your discretion. At 21, the child will have full access to the account as they begin to strike out on their own. So, whatever financial need you anticipate for their future, an UTMA is the best way to stay prepared.
Features and Benefits
- Custodian has exclusive access to the account until the child reaches the legal age of 21
- No contribution limit