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I have set up UGMA (Universal Gift to Minors Act) portfolios for my 3 granddaughters. The first thing to consider is that when the child turns 18, the portfolio BELONGS to them, and they can spend it on the biggest 18th Birthday Party in the county. Or a big drug party, or going to Tiajuna to see how many houses of ill-repute they can find, or anything else they may think of. IF you have confidence about how they are being raised, and how you think they will turn out, it's a great idea, but there are obvious dangers.
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