One word of caution on the UGMA/UTMA path, should you go down it: if the goal is to avoid tax complications, these aren't what you want.
Minors who have unearned income have a very different set of tax rules apply to them, and they go from the 0% to same-as-you bracket fast. Hit $2201 in unearned income and you're looking at tax liability.
I did a UTMA for my child at birth and now that child has had to file a 1040 every year they've been alive (and has owed taxes every year). It's fine for me, but if tax simplicity is your goal, these probably aren't for you.
