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Should I keep open my UTMA account or liquidate the investments and transfer them into my Roth IRA, brokerage account, or HSA account?

I'm 29 years old and have received full possession of the UTMA account from my father who was previously listed as the custodian. Is it more beneficial to leave the account where it is or close it and consolidate the funds into my Roth IRA? UTMA balance is approximately $4,000 and my IRA's balance is approximately $9,000. Alternatively, should I transfer the money into my brokerage account or HSA account?

Investing, IRAs
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March 2019

You are really not supposed to keep money in a UTMA account after the child (in this case you) is over 18 years old.  The account should be transferred into your own name as an individual account.  It can be used as interim money if you need it for emergencies or other goals (house purchase, etc.).  If you'd like the money to be used for retirement, go ahead with the Roth IRA.  Be aware that you will need to sell any securities in the UTMA to cash and then fund the Roth IRA.  If there are gains on the securities that you sell, you will be paying capital gains tax.

March 2019
March 2019