If you qualified for auto $0 the UGMA won’t matter as far as the FAFSA EFC is concerned.
BUT this family is completing the Profile too…and there is no auto $0 EFC for the Profile. This asset will count. Whether it significantly impacts institutional need based aid is another question. If it does, it’s not going to be by a lot for schools that meet full need for all.
But I still say, check those Profile deadlines…