While the state of Illinois legalized same-sex marriage only months before the landmark U.S. Supreme Court decision in 2015, you may have been among the many who rejoiced and celebrated when the federal government acknowledged your right to marry the person you love, no matter which state you live in.
The Uniform Transfers to Minors Act, also known as UTMA, is a type of custodial account set up for minors by adults. Many people set these accounts up for their children and grandchildren. For example, you might add $20,000 to a UTMA account for your child's schooling in the future.
As a parent who has been ordered to pay child support, you may be interested in when you can end it as well. It's not that you don't want to provide for your child, but the reality is that once you don't have a required payment, you'll still continue to provide for your child in other ways. Having a constant withdrawal from your accounts is stressful, and it's understandable.