Shall I divert kids utma funding to trump account?
We are funding 529 for education but next to it every month we send some money to kids utma account. Thinking to divert it to trump account (and maybe move utma funds to trump account).
My idea is that after 18 we can convert it to Roth Ira at low tax rate and it can be tax beneficial comparing to utma (which will be taxed at our tax rate during their colleague). It can be used for house purchase as qualified expenses so should also help them to start this way, remaining can seed their retirement.
Does it make sense? What are you doing?