The Benefits of A Trust Over Custodial Accounts And 529 Accounts
By: Randall A. Denha, J.D., LL.M. When parents and grandparents (or other generous benefactors) want to transfer wealth to a minor child, the primary decision they will face is whether to set up a Section 529 Plan, a custodial account under the Uniform Transfers to Minors Act (an UTMA account) or a trust for…