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Reply to "If your kids have UTMAs"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My young adults have them. Began with savings from work after ira contributions and at 18, I begin putting $19k in. The latter they don’t know about but they know they have 10-15k from working in there and don’t touch that.[/quote] If your kid is over 18, even if the age of majority in your state is 21, you should really be showing them the statements imo. [/quote] They will not let you transfer them. The kid has to. It’s impossible for them not to know. [/quote] Transfer what? The funds? The kids know of the accounts but not my deposits made AFTER they were 18 and they were no longer UTMA accounts (as I originally said is when I began these gifts). Why should they know - not sure it is helpful for any reason.[/quote]
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