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Just so you are clear:

You can NOT put the money in a 529. That allows you to control money beyond majority and if your child does ott go to college you could potentially spend the money on someone else.

You must put the monwy in the same UGMA/UTMA you had in the first place. If absolutely necessary it could be a bank account, although from other posts it sounds like that is not necessary and some fund companies will allow a $1400 deposit. But you cannot create any account which would tie up the money beyond ge 18 (21 in some states) or which allows a possibility that you could get the money back or it go to some third person.

dennis
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