UGMA/UTMA Account
from Vanguard
Vanguard's custodial accounts under the Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) allow you toput aside substantial sums of money for a child's future while taking advantage of the child's lower tax rate. You can open an account with a minimum initial investment of $3,000.
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UGMA/UTMA Account Reviews
Oct 20, 2008 1:03 pm
Vanguard's UGMA/UTMA accounts are ideal for parents looking for a tax-advantaged way to save for a child's future in terms of higher education or any other purpose that benefits the child. It's also useful for those who wish to invest through mutual funds or through a brokerage account.
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