Our updated online guide to custodial accounts for minors explains all the ins and outs of using these accounts established under the Uniform Transfers to Minors Act, or UTMA. Pages of interest:
UGMA & UTMA Custodial Accounts for Minors
Top page of this guide, with an index to the other pages.
UTMA Regret: When Custodial Accounts Turn Sour
What if you find that it was a mistake to set up a custodial account? Here are some of the reasons for what we call UTMA regret, and strategies for dealing with it.
UTMA Transfer to a 529 Account
Can you transfer a custodial account to a 529 savings account? Should you?