Uniform Gifts to Minors Account/Uniform Transfer to Minors Account

These custodial accounts allow you to make tax-free [deposits] per year, per child subject to annual gift tax exclusions. Income and capital gains exceeding $1,700 for 2007 are taxed at the parent’s highest applicable tax rate until a child turns 18; at that time they are taxed at the child's rate, which is generally lower.

Ask a WSA professional about how these accounts can help you with your education funding strategy.

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