Are There Ways To Assure That 529 UGMA Will Be Properly Spent?
Whenever a donor makes the decision to establish a 529 UGMA (Uniform Gifts to Minors Act) account, the provider of the account must bear in mind tat the money put into the account is owned by the child and cannot be used by the parent or custodian for any other person. The child will not receive the control of the account until he or she reaches a certain age. This rule was instituted by the state government.
Source:Are There Ways To Assure That 529 UGMA Will Be Properly Spent?
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