Give the gift that keeps on giving this year.  Get your kids interested in the process of saving and investing.  Small amounts can make a big difference over time.  Open your UTMA/UGMA account for the holidays. Here is a recent conversation I had with a valued client.

His father had become concerned with the number of toys his grandchildren were receiving each year from two sets of Grand Parents and the 10 uncles and aunts.  Even beyond the numbers, was that the gifts had a shelf life of about 1 day.

His dad discovered the availability of setting up an UTMA/UGMA type account!  This not only solved the problem of the “shelf life” issue of the gifts, but also provided a meaningful vehicle for the Aunts and Uncles to gift to as well.  The great gift was the creating of an opportunity to discuss saving with each of the grand children as they grew older. Each year, he would have an annual review and encourage them to add to the accounts. It was truly a Gift that kept giving as dividends were reinvested, and more than just money, as valuable lessons were being learned.

An UTMA/UGMA account is an account that adults can open for their minor children in the U.S.  UTMA stands for Uniform Transfers to Minors Act and UGMA stands for Uniform Gift to Minors Act.  These are state laws, and each state has enacted either an UTMA law or an UGMA law.

Ideal Investors include, but are not limited to Parents, Grandparents, Aunts and Uncles.

Give a gift this year that keeps giving and much much more!

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