I would like to get advice on which of the following has better capital gains tax implications, as well as estate tax planning implications. Is it better to invest in stocks for kids through an UGMA account, a simple joint brokerage account or both?Also for the joint brokerage account, do I set up a custodial account or a joint account? and how do I do it so that capital gains are taxed at the minors rate? I am asking because they always ask for social security numbers for everyone listed on the account,so who gets to claim it on their form?
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