UTMA, UGMA and 529 Plans Compared

UTMA, UGMA and 529 plans are all great options for parents who want to save up for their child's future. This video can help you decide which one is best!
0:00 Introduction
01:26 Who is the owner of a UTMA, a UGMA or 529 plan account?
01:59 UTMA, UGMA, 529 plan accounts rules
02:57 Allowed investments to a UTMA, a UGMA or 529 plan accounts
03:47 How are UTMA, UGMA and 529 plan accounts taxed?
04:55 What expenses can UTMA, UGMA and 529 plan accounts be used for?
06:16 UTMA/UGMA vs. 529 Plans
07:31 UTMA, UGMA and 529 plan accounts impact on the child's financial aid eligibility
07:53 What are the benefits of UTMA, UGMA and 529 plan accounts
08:40 Gift tax rules related to the UTMA, UGMA and the 529 plan
ACap Advisors & Accountants is a financial advisor and CPA firm located in Los Angeles, California. We are a full service wealth management and CPA firm.
Subscribe to ACap Advisors & Accountants TH-cam Channel:
/ acapam .
Schedule a Consultation:
www.acapam.com/contact/
12031 Ventura Blvd., Suite 1
Studio City, California 91604
[phone]
[e-mail]
Connect with ACap on social media:
Twitter: / acapam
Facebook: / acapadvisorsaccountants
LinkedIn: / acapadvisorsaccountants
Instagram: / acapadvisorsaccountants
Fiduciary Oath/Pledge
www.acapam.com/financial-advi...
Financial Advisor in Los Angeles, CA
CPA in Los Angeles, CA
#fiduciaryfinancialadvisor
DISCLAIMER: THIS VIDEO IS FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSTRUED AS TAX, FINANCIAL, OR LEGAL ADVICE. EVERY PERSON’S SITUATION IS DIFFERENT AND YOU SHOULD CONSULT WITH YOUR OWN FINANCIAL AND TAX ADVISOR FOR ADVICE SPECIFIC TO YOUR SITUATION. COMMENTS ARE NOT REVIEWED

[@ACapReCap]

ACap will not respond to comments seeking tax or financial advice. Please consult a CPA or CFP who is familiar with your individual circumstances.

[@michaelbetanzos6172]

Fantastic video - thank you!

[@ACapReCap]

Thank you. Glad you enjoyed it!

[@mmchang782]

very useful information, Thank you!

[@tonybelleo1895]

I chose the utma

[@carolinapm508]

Very informative. Thanks for the info

[@ACapReCap]

Thank you!

[@zacdeen27]

Say I wanted to invest money in an account for my children that I own but plan to allow a group of trusted friends & family to approve or deny what the funds are used for. The idea being that if our kids don’t want to go to college or tech school however they show potential and responsibility, they could pitch their idea to the “board” of friends and family to approve or deny. Is there a certain type of investing account for that theoretical idea?

[@t.g.c9311]

couldn't you technically get the kids to sign power of attorney over to you at 18 anyway and maintain control over the account?

[@peerguy]

You could. Essentially the kids would make you the custodian, if they choose to do so