5 ms·
Jeff - Founder/CEO - This will all be made clear. It's a UTMA and very easy to use. We will also be handling everything behind the scenes. Saving for your c
by Bricejm 14y ago
Jeff - Founder/CEO - This will all be made clear. It's a UTMA and very easy to use. We will also be handling everything behind the scenes. Saving for your child can be complicated, but that is what we're going to change.
- Nogwater 14y agoWhat's UTMA?
- toomuchtodo 14y agohttp://en.wikipedia.org/wiki/Uniform_Transfers_to_Minors_Act http://en.wikipedia.org/wiki/Uniform_Transfers_to_Minors_Act
- deleted 14y ago[deleted]
- jimsperry 14y agoCan you explain how a solution based on UTMA account is a better solution compared to a 529-based solution. 529's seem to have much better tax advantages when the primary focus is saving for college (which I assume will be the primary audience for your service).
- Bricejm 14y agoJeff - Founder/CEO A UTMA can be used for non-education expenses without a penalty. Gains, to an extent, on the account can also be offset by the kiddie tax exemption. We will be providing the education and tools to explain this and make it as easy as possible. A family could also pair a 529 plan and a TrustEgg account to save.