UGMA accounts can be opened through a bank orbrokerageinstitution. Friends and family can make contributions to the accounts, which carry no contribution orincomelimits. Contributions are made with after-tax dollars, which means donors don't receive an income tax deduction. Deposits are irrevocable....
Gifts of real estate are more often than not made between family members. Many parents gift real estate in order to get their kids set up in an affordable house of their own. For example, when parents retire and move to a new, smaller dwelling, they may give the child the old house, ...