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Catchword for “Cancun account”
Catchword: Cancun account
Filed Under: , ,
Part of Speech: n.
Quotation: KissTrust provides grantors with a measure of control that is not offered by Uniform Gifts to Minors Act (UGMA) accounts and Uniform Transfers to Minors Act (UTMA) accounts. “In the industry, UGMAs and UTMAs are jokingly referred to as Cancun accounts, because as soon as little Jonny [or] little Mary reaches the age of majority…the assets fly out the door,” Armand said. “In fact, 95 percent of the assets in UGMAs and UTMAs are completely gone by [the time the account holder reaches] the age of 25.”
Article or Document Title:
“KissTrust: Giving the Gift of Savings” (URL)
Author:
Melana Yanos
Article, Document, Publication, Web Site:
NuWire
Date of Publication:
June 13, 2008
This catchword has yet to be researched.
Posted 14 Jun 08 | Permalink | Tell a Friend

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