Found out last year that my grandmother who passed in 2016 had a UTMA account set aside for me! At 34 y/o I'm now well past the 21 year age limit and have to make a financial decision about how I will transfer the account into my own custody.
I have some expenses that I can certainly use a bit for, but I'm really interested in having it toward retirement. Another factor which had caused my hesitation is that I have a 12 year old child who can recievecertain special needs services aasd lon as we do not change our income bracket while he is under 18. I'm researching now if this account would be counted as income, or possibly inheritance?
Not certain how to proceed... thank you
Submitted November 11, 2019 at 09:40PM by Tfranz_02 https://ift.tt/2X6ExZs
