It's tap-able for any enrichment of the kid's life other than normal kid raising. For my youngest, some was used while he was still in High School -- for his EMT Cert and High Angle / Helo rescue training programs. He's now a HotShot Fireman.The Utma can be used to pay for college since it benefits them
I set one up for my daughter. I’m probably overfunding it thinking I’ll try and get 1m in there by 21 since I already have 23k in and she’s only 11 MO’s old
If she’s ends up getting into trouble , I’ll go the Dave Ramsey route and keep it from her and she can sue me to get it hahaha
If she ends up in trouble, you can use it for lawyers and/or rehab. IMO, if 21 is available in your state, doing so is appropriate.
My Grands were seeded with $10K before age 1 and some more has been added yearly. The oldest is now 10 and his account is north of $50K. It's their getting started in life money, be it college or whatever.
My parents funded UGMA's my kids. My youngest only spent 1/3 of his while he was younger. Later, some of that growth paid his house down payment, when he was in his 30's. My daughter had a small amount of hers left over after she completed her Masters.
Statistics: Posted by RetiredAL — Wed Oct 08, 2025 6:27 pm — Replies 19 — Views 1256