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