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Can assets from an UGMA/UTMA account be transferred to the Path2College 529 Plan?

April 26, 2017account assets Path2College Plan transferred UGMA UTMA

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Can assets from an UGMA/UTMA account be transferred to the Path2College 529 Plan?

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… negatively impact the chances for financial aid, since financial aid officers weigh children’s assets much more heavily than parents’ assets. UGMA/UTMA ACCOUNT An account that is created for the benefit of a minor, with an adult (agent, bank, trust company, or other organization) as the custodian … http://www.path2college529.com/faq/glossary_s_z.

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… each additional step easier, we’re happy to offer Path2College 529 Plan account owners a rebate program through Futuretrust to help your college savings. What is the Path2College 529 Plan/Futuretrust Program? Created by parents for parents, Futuretrust offers Path2College 529 Plan account owners the … http://www.path2college529.com/promotions/futuretrust.

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Yes, though transferring UGMA/UTMA assets into a 529 plan account may result in a tax liability. You may wish to discuss this with your tax professional. Read more FAQs.