I set up a UGMA for my infant son in 1987 for college savings. I purchased three stocks (after the crash) with DRIP's and they have grown substantially. It was my only good lifetime investment. He's got more money saved than I do. Now I find out that college savings should not be in UGMA's since they reduce the amount you could receive in college aid. Something like 35% of the childs assets are considered elegible for college expenses compared to 5% of the parents. I plan on selling the stocks in 2001 to take advantage of the 5 year holding rule and therefore 8% capital gains rate. Can I just take the proceeds and put the cash in my bank account and use it for tuition? Anyone who has been through this before please feel free to comment.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Rat