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Posted

This is a pretty specific question.  Does anyone know if we should include a UTMA account for Part 3 question 6 "Market value of my stocks and bonds"? 

 

I don't think a UTMA is either a stock or a bond, but it is an investment.  I do not need assets to get to the 125% over poverty line, my salary is plenty.  Let me know if anyone has an opinon!

 

Thanks

Filed: IR-1/CR-1 Visa Country: Colombia
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Posted

I am a licensed Financial Advisor in Florida. I don't think you should put this as your asset because you are just the "custodian" of the account and not the beneficiary. The minor or child is the beneficiary and the only person with claim to the money. By depositing money into the UGMA account, you gifted the money to the child and if you withdraw it for personal use, you would be in breach of Fiduciary Duty as a custodian. The money you deposited for the child is irrevocable and only for the benefit of the child. 

 
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