Prior to the age of majority, the money is available for anything that directly benefits the minor. Whether you want to invest now for future education costs, astronaut camp, or band equipment, for example, the money in the UGMA account will be available when you need it.

Once the minor reaches the age of majority, there are no restrictions on how the money can be used. It could be used for college expenses, a down payment on a house, or an emergency fund, for example.