UGMA or UTMA Accounts for Your Child's Future
UGMA and UTMA (Uniform Transfers to Minors Act and Uniform Gifts to Minors Act, respectively) accounts offer a straightforward way to set money aside for a child while investing for the future. We help you understand how these accounts work, how they fit into your plan and how today’s gifts may support tomorrow’s goals.
Our Strategy
01
Learn Your Gifting Goals
We begin by discussing who the account is for, how you hope the funds will be used and how UGMA or UTMA accounts compare with other savings options.
02
Select and Manage Investments
Next, we recommend an age-appropriate investment approach that reflects the time horizon and your comfort with risk. We help you understand how contributions, withdrawals and taxes work along the way.
03
Monitor as your Child Grows
We review the account over time, adjusting the investment mix as the child gets older and goals become clearer. We also help you prepare for the transition when the beneficiary gains control of the assets.
How We'll Help
We’ll help you use UGMA and UTMA accounts thoughtfully as part of a broader plan for a child or grandchild. We work with you to:
- Explain how UGMA/UTMA accounts work
- Compare UGMA/UTMA accounts with other savings options
- Discuss who should serve as custodian
- Develop an investment approach for the account
- Set expectations for how funds might be used
- Review gifting levels and potential tax considerations
- Adjust investments as the beneficiary nears adulthood
- Plan for the transfer of control at the age of majority
- Coordinate UGMA/UTMA accounts with your overall estate plan
Testimonials
NHTrust is a trade name of the New Hampshire Trust Company. Brokerage services are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Investment and insurance products are subject to investment risk, including the possible loss of value. Products and services made available through Osaic Institutions are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. Osaic Institutions and NHTrust are not affiliated.