UGMA/UTMA CUSTODIAL

Custodial accounts, established under the Uniform Gift to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA), allow parents or others to contribute to a child's education or future. With these accounts, benefactors can invest up to $12,000 individually—$24,000 if funds are given jointly with a spouse—per year, per child, without triggering a gift tax as long as parents and others stay within gift limits set by the IRS.¹

All investments in the custodial account are owned by the minor, yet benefactors will have control over the account until the beneficiary reaches age 18 or 21 depending on the state.

Custodial Account Benefits

• Custodians can invest in stocks, Treasury bills, Zero-coupon bonds, mutual funds, Series EE U.S. Savings Bonds, and more.
• Under the Uniform Transfers to Minors Act, the custodian can maintain control over the account for a longer period and can make different types of investments.
• Receive professional guidance from a Wachovia Securities Financial Advisor to help you understand and establish a custodial account, as well as assist you in selecting the types of investments that can benefit a child’s future.
  
  
  
  Mutual Funds are sold by prospectus. Please consider the investment objectives, risks, charges, and expenses carefully before investing. The prospectus, which contains this and other information, can be obtained by calling your Financial Advisor. Read it carefully before you invest.

Wachovia Securities is not a tax or legal advisor.



Wachovia Securities is the trade name used by two separate, registered broker-dealers and non-bank affiliates of Wachovia Corporation providing certain retail securities brokerage services: Wachovia Securities, LLC, Member NYSE/SIPC, and Wachovia Securities Financial Network, LLC, Member FINRA /SIPC.

Wachovia Securities Statement of Financial Condition
Audited - December 31, 2007 
Unaudited - June 30, 2007 

Documents marked with this icon require Adobe Acrobat Reader. If you don't already have this software installed, you can download it for free from Adobe's Web site. Get Acrobat Reader now.

Apply Now
All Application Forms

Related Links

•North Carolina's National College Savings Program
•National Association of Woman Business Owners
•Online Brokerage Demo

Personal Finance Customer Service