Trump Accounts Child Savings Program

A UTMA or UGMA account—often called a "Trump account" after the Uniform Transfers to Minors Act or Uniform Gifts to Minors Act—is a way for adults to set aside money for a child's future. The money goes into an account owned by the child but managed by an adult custodian until the child reaches the age of majority (usually 18 or 21, depending on your state). These accounts hold cash, stocks, bonds, or other investments, and the child gains full control when they come of age.

The articles here explain how these accounts work in practice: what happens to the money and earnings over time, how taxes are handled, what the custodian can and cannot do with the funds, and what occurs when the child turns 18 or 21. You'll also find information about the differences between UTMA and UGMA accounts, how to open one, and whether this type of account makes sense for your situation.