<p>Not sure how to handle sibling's UGMA accounts. Form states to include value of your PARENTS assets held in the name of your siblings. Instructions say to include UGMA accounts held by your parents in the name of siblings. Instructions further on say to include assets your parents own in your siblings name.</p>
<p>To say the obvious, this is not a model of clarity. UGMA money is not the parents' assets and is not owned by the parent. If the money were owned outright by the sibling, then clearly not reported. I would think that UGMA money for a sibling should also not be reported. Does anyone have insight to this issue???</p>