(MONEY Magazine) – Q. I established a state-sponsored 529 college savings plan for my daughter. Prior to this, her college savings went into a custodial account set up in her name under the Uniform Gift to Minors Act. Can I transfer the assets of the UGMA account to the 529? ROBERT DICKSON KNOXVILLE

A. The answer depends on which state is sponsoring your plan. (Although you live in Tennessee, you might have opted for a plan offered in another state.) But even if such a transfer were possible, consider these three points: First, you would need to liquidate the UGMA assets, because a 529 will accept only cash. You would then lose control over how the money is invested since most states have preset asset-allocation formulas based on the child's age. Finally, you can use the 529 withdrawals only for college expenses, or you will trigger penalty taxes, which is generally 10% of your earnings.

Your best bet: Keep the UGMA account and fund the 529 with new savings. That way you'll enjoy both the tax-sheltering features of the 529 and the investment flexibility of the UGMA. For more information about 529 plans, go to www.savingforcollege.com.

Q. My mother's trust specified that her savings should go to my children when they turn 25 years old. However, it doesn't stipulate how the money should be invested. Even though I suggested a long-term, moderately aggressive strategy, the trust adviser invested the money in six of his company's mediocre mutual funds and left the rest in money-market funds. Is he violating his fiduciary responsibility by investing in his company's funds when I can get better returns somewhere else? PETE ROTH WAUSAU, WIS.

A. Not necessarily. Most trust documents empower the trustee to use his or her own discretion with regard to managing investments. Unfortunately, the beneficiary has little power over the inheritance. Most trusts have instructions on replacing a difficult trustee. Although your adviser has not been particularly responsive, a breach of fiduciary responsibility is difficult to prove. Before you initiate what could be a messy lawsuit, speak to your trustee's supervisor. Perhaps the trust could be switched to another company official.

Q. When AT&T acquired MediaOne, I received some AT&T stock plus $8.50 in cash for each of my shares in MediaOne. How is the $8.50 cash viewed by the Internal Revenue Service? NAME AND LOCATION WITHHELD

A. The cash will be treated as a taxable gain, and the cost basis for the AT&T shares is the same as for your MediaOne shares. (For more information on this deal, go to www.att.com/ir/pdf/mediaone_taxbasis.pdf.)

Q. Can I fund a Roth if I earn $80,000, am married and file separately? STEVE GIULI LOCATION WITHHELD

A. Tough luck. As a married person filing separately, you must earn less than $10,000 to qualify for a Roth.

Q. I read that the World Wrestling Federation (WWF) left Nasdaq to trade at the New York Stock Exchange. How does that affect the stock? KAYE ALEXANDER CHICAGO

A. The move to the NYSE brings publicity, increased visibility and, some say, prestige. More important for the stock price, though, will be the success (or lack of same) of WWF's joint venture with NBC--the XFL football league.

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