Which statement is TRUE when comparing the use of a UGMA or UTMA account for saving for college tuition with a 529 plan?
a) UGMA/UTMA accounts offer greater tax advantages than 529 plans.
b) 529 plans provide more flexibility in asset usage than UGMA/UTMA accounts.
c) Both UGMA/UTMA accounts and 529 plans have similar tax implications.
d) UGMA/UTMA accounts are not suitable for college savings.
