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What is the difference between an UGMA/UTMA and an Education Savings Account?

April 26, 2017Education savings account UGMA UTMA

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What is the difference between an UGMA/UTMA and an Education Savings Account?

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The primary differences between a custodial account and an Education Savings Account are the amount of money that can be contributed to each and the purposes for which the money can be used. Click here for a summary of the key features UGMA/UTMA Accounts. Click here for a summary of the key features of Coverdell Education Savings Accounts.