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One other consideration is who the accounts belong to legally. Also, depending upon your state of legal residence, even a guardian account requires transfer of assets to the grandchild at age 25.

You should consider who owns the accounts if something happens to you (your estate or the grandkids) and you are no longer able to dictate what is going on.

The Fool has a set of articles for Investing for Kids and I would also encourage you to drop by Fairmark to read their section on the same topic.

good luck and those are some lucky grandkids!

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