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Reply to "If your kids have UTMAs"
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[quote=Anonymous][quote=Anonymous]Mine had an UTMA for about three years, funded with an inheritance. He knew the balance from the beginning, as well as how the investment decisions were made, as he knew it was intended for 1/2 his college expenses. We transferred it into a joint account just before he went to college, as he admitted it would be best if I was there to manage it and pay things when appropriate since he didn't have the bandwidth. I told him he has a year after he graduates and then any remaining funds need to be in an account in his name only![/quote] The balance was 80,000 when opened and is currently about 63,000. [/quote]
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