https://denverparent.net/2011/04/financial-friday-saving-for-your-childs-education-part-iii/ Tue, 20 Nov 2018 19:57:07 +0000 hourly 1 https://wordpress.org/?v=6.3.4 https://denverparent.net/2011/04/financial-friday-saving-for-your-childs-education-part-iii/#comment-453 Tue, 05 Apr 2011 20:25:17 +0000 https://denverparent.net/?p=430#comment-453 Hi, Daria- thanks for the questions. It is 18 in Colorado but I would not recommend you withdraw because of all the taxes and penalties you would pay. I would do what my parents did- just don’t tell me about it. Ha! Kidding. But closer to their age 18 think about what you want to do then. My in-laws used custodial accounts for weddings and house down payment for the specific child it was established for. You can use it to help for college too. But I would not be quick to remove it yet. The kids may surprise you yet.

]]> https://denverparent.net/2011/04/financial-friday-saving-for-your-childs-education-part-iii/#comment-452 Tue, 05 Apr 2011 17:14:37 +0000 https://denverparent.net/?p=430#comment-452 Do you know the age limit in Colorado for when the kids get control? We have custodial accounts for our kids (not much money in them), that is to go to college, but I don’t know that I trust the kids to use it that way. If the age is 21, I’m comfortable, but at 18, I’m not and may consider withdrawing it so they have it available for college.

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