Older parents are becoming more common, driven in part by changing cultural mores and advances in infertility treatment. Comedian and author Steve Martin had his first child at age 67. Singer Billy Joel just welcomed his third daughter. Janet Jackson had a child at age 50. And these older parents have special estate planning considerations.
Uniform Transfers To Minors Act
While the concept behind UTMA accounts is to have an easy way to save money for children for college, there are serious dangers with these accounts.