Its purpose is to answer their transportation needs, and it is intended to give them joy.â However, soon after the KdF (Kraft-durch-Freude)-Wagen (âStrength-Through-Joyâ car) was displayed for the first time at the Berlin Motor Show in 1939, World War II began, and Volkswagen halted production.
The custodian of an UGMA / UTMA account controls and manages the assets for a minor (the beneficiary of the account). A parent does not have to be the custodian of the account, and you can choose someone else to manage an UGMA / UTMA on your childâs behalf.he custodian of an UGMA / UTMA account controls and manages the assets for a minor (the beneficiary of the account). A parent does not have to be the custodian of the account, and you can choose someone else to manage an UGMA / UTMA on your childâs behalf.
If necessary, the custodian can withdraw money from the account when it benefits the child. The law requires that all assets in a custodial account be used only to benefit the minor child. Clearly, the expectation is that the custodian will never use the money for personal interests. Custodial account has no restriction on what the money can be used for. 2  If the money inside the 529 plan is used for the above mentioned expenses, the owner will not have to pay any income tax when cashing out the funds. 3  Custodial accounts offer a lot more flexibility with the investment choices.