Custodial Accounts (UTMA/UGMA)
Assets in a custodial account belong to the minor. A custodian, usually an adult relative, controls the assets until the minor reaches the age set by state law (21 in most states).
Assets in a custodial account can be used to pay for…
Find the full article at http://fpsparkmancpa.blogspot.com/2018/05/saving-for-college.html