[[ Do you know why he might have suggested this? Is there any good tax reason for taking money out of an UGMA?]]I would second rddy's advice...check out the discussion of this issue at the fairmark web site. I also have some UGMA/UTMA information in the Taxes FAQ area. And I also know that there is some Foolish information on the pros and cons of UGMA/UTMA accounts. You might want to run a search.TMF TaxesRoy
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