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Are UTMAs a no-no for physician mommies and daddies?
13:01
 

Are UTMAs a no-no for physician mommies and daddies?

childhoodsavings financial parenting investment utmas Jul 27, 2022

UTMAs can seem appealing to a physician for the tax break. However, using this account to hide money and present it to a child when they reach adulthood is a no-no. So then are UTMAs still a valuable tool for physician moms and dads? How might they help physicians in the process of giving their children money? Tune in today to learn more about the UTMA account and the best way to use it for physician children. 

 

ASK A QUESTION

Send your questions about taxes, investing, extra money, retirement, college, and financial parenting to [email protected] or call the Physician Family Answer Line at (503) 308-8733.

 

IN THIS EPISODE

  • [0:33] What is a UTMA and how does the investment work?
  • [3:13] What happens when your child becomes an adult?
  • [4:47] Why do people use UTMAs? How to do it the right way.
  • [8:47] Wrapping a ROTH into the UTMA.

 

NOTICE

Physician Family Financial Advisors Inc., a registered investment advisor, has reasonable belief that the information and content as a whole does not include any false or materially misleading statements or omissions of facts regarding services, investments, or client experience. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and unless otherwise stated, are not guaranteed. Information expressed does not take into account the specific situation or objectives of individuals and is not intended as recommendations appropriate for all individuals. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation.  Past performance is not indicative of future performance.

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Beaverton OR 97008-7105
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