Two popular options emerge in this landscape: UTMA/UGMA custodial accounts and 529 plans. While both serve ... personalized guidance based on your individual situation and long-term objectives ...

Types of Custodial Brokerage Accounts: UGMAs vs. UTMAs There are two ... One way around this is to liquidate the UGMA or UTMA and transfer the assets to a 529 college savings plan.

Flexibility gives UTMA accounts an advantage over some other savings strategies, such as 529 plans and Coverdell Education Savings Accounts (ESAs), which can be used only for qualified education ...