<p>lousyanamom - it generally makes sense to “shelter” kids’ assets from the FAFSA calculations by moving them from UTMA (assessed at 20%) to a UTMA/529 (assessed at around 5%). However, everyone’s financial situation is different. You should probably calculate your EFC both ways and see what makes sense for you, and also research where you think the best returns will be (your own investments vs those in a 529 which you can’t control as well), plus look at the fee structure of both options. Also there’s the question of what timeframe you’re looking at - there’s no rush to transfer from UTMA to 529 if you’ve got 10 years before kids are in college, for example. So, there’s no one size fits all answer, but in my case it made a lot of sense to liquidate most of the UTMA and transfer funds to the UTMA/529.</p>