Cosper Insurance

Time to renew your Medicare Coverage?

Give us a call.

254-342-3939

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UGMAs and UTMAs take the form of a trust. Your child can use the UGMA or UTMA funds to pay for college; however, once that age is reached, your child can also use the money to pay for anything else. Using a trust involves a complex set of tax rules and regulations. Before moving forward with a trust, consider working with a professional who is familiar with the rules and regulations.