Would you recommend a UTMA or family access trust?

Hello, With an UTMA, the assets are distributed at a specific age [18 or 22] -- depends on plan. With a trust you can control how the assets are to be distributed and when. It is recommended that you consult with a local estate planning attorney for assistance.

Trust can give you more specific control and outcome. The UTMA account can be distributed when the minor becomes a legal adult. See .com under 'Find-A-Lawyer'. Good Luck.

Unless you want the child to possibly have full access to all funds at 18, a revocable living trust is the way to go. Please consult with an experienced estate planning attoreey in your area. There are a number of very qualified estate planners in Reno.

A revocable living trust would provide the maximum flexibility in your plan. You can specify an age of adulthood at which the assets can be disbursed to the children, or you can set up a disbursement schedule to spread it out over whatever period of time you wish. The key in a trust, though, is having someone in whom you can place all your trust, as your successor trustee, to honor your expressed wishes and have the kids' best interests in heart. This office would be happy to offer a free consultation to discuss your options regarding your plans.