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Course 210: How to Invest for College | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Uniform Gifts to Minors Act | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Most states have variations on the UGMA (sometimes called a UTMA), which allows anyone to transfer ownership of assets or an investment to a minor.
The biggest problem with the UGMA is the control you surrender. If junior would rather spend the account on a new car rather than college, he can. It's his money. Next: Turn Tame When the Time Is Right >> |
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Learn how to invest like a pro with Morningstar’s Investment Workbooks (John Wiley & Sons, 2004, 2005), available at online bookstores. | ||
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