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YouTubeWilcox Attorneys, PA
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Parental gift tax rules explained. Avoid scrutiny traps. #IncomeTaxAct #TaxScrutiny #incometax #gift
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YouTubeArnold & Mote Wealth Management
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What’s a UTMA? It stands for Uniform Transfer to Minors Act account. I’ll manage their UTMAs until they reach age 18, at which point they’ll have full ownership of the assets in the account. We didn’t necessarily love the idea of being restricted to education-related expenses inside of a 529 (though this is worth looking into again because 529 funds can be rolled over into a Roth IRA as of this year), so the flexibility of a UTMA was appealing. Funds can be used for a variety of things, as long
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