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by john pennington on August 10th, 2009
What is UGMA?
by john pennington on August 10th, 2009
It depends on the conditions of the account.
You may need an attorney to help you make a decision and if your qualify for cashing in the account.
by RysMom on August 10th, 2009
I don't know if it's legal but it is advisable. I heard a financial advisor say that you should worry about keeping your family alive TODAY when you're in the middle of a financial pinch. Let the kids worry about savings/college when they get there. If you starve them today, there won't be a future!
by Anonymous on August 10th, 2009
UGMA is an acronym for the Uniform Gift to Minors Act.
by The Wraith of God is Coming on August 10th, 2009
http://www.fairmark.com/custacct/
Not sure likely not you are custodian not owner.
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You're reading Is it legal to close out my children's UGMA accounts and use the money to pay bills because we have hit very hard financial times?
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Comments
http://www.fairmark.com/custacct/
Looks like trust funds and the like.
by The Wraith of God is Coming on August 10th, 2009