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Kids Accounts For Saving And Investing

Tuesday, January 11, 2011 - 3:10 PM
Ray Martin in his CBS MoneyWatch blog What Works describes 3 account categories in which adults can set up for their children. Although he discusses these in terms of brokerage accounts, these also apply to bank accounts. The 3 accounts include:  1) UTMA/UGMA Accounts, 2) Roth IRA and 3) Grantor Trust.
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,249
1. Friday, May 20, 2011 - 2:42 AM
Individuals who want to give their children or grandchildren larger financial gifts but want to maintain some control as to how the money is managed and when the children receive it should consider a simple grantor trust.



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karinabartramkarinabartram6 posts since
May 20, 2011
Rep Points: 6