Want to set aside money for your child or grandchild? Consider opening a VAUTMA account. A VAUTMA account is a special type of savings account that allows a custodian to deposit and manage money on a minor’s behalf until the child comes of age. This account comes with unique tax benefits, and unlike a 529 plan, the money can be used for anything that benefits the child, not just higher education.
To learn more, visit https://frontiercommunitybank.com/personal-savings/
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