Gifts for Grandchildren
Here's a way you can give a great gift to your grandchildren!
You can set aside as little as $25 a month (up to $10,000 per
year) into a Uniform Trust to Minor's Account.
The Uniform Trust to Minor's Account (UTMA) is a special account
that can pass money tax-free to a minor. However, since minor's
cannot "legally" make their own decisions, the money is held in
trust.
Another option is to gift money to a "College IRA" account. This
account allows you to accumulate money tax-deferred for college
education. Each student can put up to $500 per year into this
account.
Using these two gifting methods can dramatically help your
grandchildren go to the college of their choice.