With these types of custodial accounts, a minor can own cash or securities that are controlled by a custodian until he or she meets the age of majority in the state the account was set up. All deposits into these accounts are irrevocable gifts to the minor recipient.

The Uniform Gift to Minors Act (UGMA) and the Uniform Transfer to Minors Act (UTMA) make it simple to transfer property to a minor without a formal trust and without the restrictions applicable to the guardianship of a minor’s property.

Assets in the account become an irrevocable gift to the minor under the Uniform Gift to Minors Act or the Uniform Transfer to Minors Act (UGMA/UTMA). Custodial accounts are not tax-deferred. Taxation of earnings will be dependent on the minor’s tax rate.

College Planning

A good college plan is a road map that can guide you through school to college, advise you and what to do, and track your progress throughout the process…

Global Advisers Education Planning Services

Interested in our services? Speak with a financial professional.

800-832-8514


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Saturday 10 a.m. to 4 p.m.
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Key Facts and Highlights

Custodial Accounts

ZERO

No income limitations. No extra fees or expense ratios.

100%

Financial advice, support, and planning service.

MINIMUM

$3,000 to open. No below-balance fees.

$

Contributions must be made in cash vs. securities transfers.

529 Plans

A 529 Plan is a great way to save for college and gain tax benefits. It allows you to save for college while your money grows tax-deferred. The 529 Plan is designed to meet the needs of virtually every family and every budget.

Coverdell Education Savings Account

The Coverdell ESA is a savings plan created for the purpose of paying a student’s qualified educational expenses. These can include, but are not limited to tuition, books, and uniforms. Similar to a 529 plan, your money is tax-deferred, allowing your fund to grow faster.