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.
Another approach for parents and grandparents may be to combine the features of custodial accounts and 529 college savings plans. For example, by placing a 529 plan within a custodial account, the parent or grandparent can retain control until the student becomes of age (generally 18 to 21, but varies by state). After that, the student would have control, but must use the money for college expenses or pay a penalty.