Neale Godfrey: Money For Life
Top Stories
Members Only: Common Cents Activities
Hire Neale
#NowWhat
Comments (2)
No. 1-2
NealeGodfrey
NealeGodfrey

Editor

Hi Terry. It was an UTMA account. It's a custodial account set up for a minor(an UGMA or UTMA account). The Uniform Gift to Minors Act (UGMA) established a simple way for a minor to own securities without requiring the services of an attorney to prepare trust documents. Many parents use it to set up college funds.

TerryPotter
TerryPotter

I didn't know this! What kind of account did the mom use?

Ask Neale

FEATURED
COMMUNITY

ASK NEALE: My Teen Refuses to Save

(VIDEO) Here's the deal–your headstrong teen has a job but refuses to save any money. What's a parent to do?

NealeGodfrey

by

NealeGodfrey

ASK NEALE: Should I Go Back to Work?

(VIDEO) The scariest question we working moms have is: Are we messing up our kids?

NealeGodfrey

by

LouiseSchmidt

ASK NEALE: My Husband Controls All Our Money

(VIDEO) You marry for better or worse, richer or poorer. But what happens when your spouse becomes a financial bully?

NealeGodfrey

by

TerryPotter

ASK NEALE: My Family Wants a Prenup

(VIDEO) I’m a Baby Boomer and I can’t think of anything more loving and caring than having a prospective husband (or wife) be thoughtful enough to make sure the other is taken care of after they are no longer there to share the other’s life. But when the family gets involved, watch out!

NealeGodfrey

by

MoneyMom

ASK NEALE: My Ex Spoils the Kids

(VIDEO) Whether you're married, divorced, or separated, coparenting is never easy. When you and your ex are on different wavelengths, there are a number of ways you can deal with conflicts before they have a lasting, negative impact on your child's behavior.

NealeGodfrey

by

Sedona78

ASK NEALE: First Time Taxes

(VIDEO) Most teens are in for a big surprise when they open up their first paycheck and discover a chunk of their earnings are missing.

NealeGodfrey

by

Sedona78

ASK NEALE: When Dad Stays Home

(VIDEO) The number of stay-at-home dads has doubled since 1989, according to research from the Pew Foundation. But don't get too excited: this isn't actual progress for equality in the domestic sphere.

NealeGodfrey

ASK NEALE: Should I Lend Money to My Child?

(VIDEO) Should you lend money to your children–no matter what age? Neale answers this sticky wicket question once and for all.

NealeGodfrey

ASK NEALE: New Husband Ignores Stepdaughter

(VIDEO) Neale addresses a mom upset over her new husband's decision to ignore her daughter from a previous marriage

NealeGodfrey

by

TerryPotter

ASK NEALE: Mom Wants to Start A Business

(VIDEO) Neale tackles a perennial question: how do you deal with mommy guilt when you want to start a business?

NealeGodfrey

by

TaylorJones