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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: the traveler who wrote (17697)	12/2/2013 9:12:15 AM
From: chowder	1 Recommendation Recommended By Ericeira Read Replies (1) \| Respond to of 34328

>>> it is illegal in most states not to turn over full control of the UGMA money to the beneficiary when they come of age. <<< How do you define "turn it over?" If my kids ask for the money, I have no choice but to let them have it. They respect my wishes because they respect what I am trying to do for them. We have already done the paper work with my son and he's free to do whatever he wants, but he leaves it to my care because he says when he puts money in there, stuff happens, but he didn't use the word stuff. ... Ha! I don't think most states say they must run the portfolio themselves. I think they mean the money is their's and not mine anymore. I'm still free to be a parent and they are going to hear what I have to say. I told my son regardless of how old he is, it's still my job to make suggestions. It's his job to accept them or not. I told him not to tell me how to do my job and I won't tell him how to do his. He liked that concept. When my son was 22, TDA was still dealing with me because my name was on the account. They suggested I do the paper work to put it in his name only and we did, eventually.