Yeah, definitely do not move monies from any of these accounts to your 529 (or anything else titled in your name). Since you already have UTMAs set up in the kids' names, would just use those as the destination for mandatory Roth withdrawals.1. Kid 1 name, my name Cust -- Inherited Roth Ira Brokerage Account
2. Kid 2 " "
3. Kid 1, my name Cust -- UTMA Brokerage Account
4. Kid 2 " "
That's how they're named. Do you think I should talk to an attorney before changing the holdings from individual stocks to the index fund?
You'll probably want accounting help to handle taxes on the UTMA, at least at first? And a tax professional can similarly confirm whether you're understanding the Roth withdrawal rules correctly. But it's not clear to me what kind of "financial planning" you need beyond choosing an asset mix appropriate for the children. A lawyer could advise you on the "reasonably prudent investor" standards in your jurisdiction (or whatever guardrails you need to stay within as custodian; might have a different name in NY).
Statistics: Posted by Eventually — Wed Feb 11, 2026 2:51 pm — Replies 17 — Views 537