Kosher Money episode Eli Langner

I'm putting money away for bar [music] mitzvah and weddings, right? I don't want to look back in 20 years and say, "Hey, I didn't put money away." Now, someone else [music] said to me, and Mandy Feorn has a thought on this. He was a fantastic fellow that we had on a few months ago. He [music] says, "Just realize the money after the children turn a certain age, maybe it's 21, the money belongs to them. So, you guys better be on the same page." And I said to myself, Glenn Har, God willing, we are, but would you, if you were saving for a money, put it into UTMA for a wedding? I would not. [music] I because that's really the kids money and there's some restrictions in terms of are using for your benefit or for the child's benefit. [music] What I one client that I have does this and I think it makes a lot of sense is he has accounts for each of his kids. They're all set up in his own name. They're all his money but he kind of put a a uh nickname on the account for each of the children and he told me I actually didn't ask him what the purpose of the account was and he actually told me recently each one is to pay for their respective barbach mitzvah. [music] You do the same thing for a wedding and add to it on a regular basis. But this is way you always control the money um on the account with an UGMARMA account. There could be issues if it's [music] not used for the child's benefit. So for the situation you're describing, I wouldn't