Series 26: Uniform Transfers To Minors Act Accounts (UTMA)

Taken from our Series 26 Online Guide

Uniform Transfers to Minors Act Accounts (UTMA)

If a custodian wants the assets to transfer to the minor at a later date than the age of majority, the custodian can open a Uniform Transfers to Minors Act account, which allows the custodian to name a transfer age higher than a particular state’s age of majority. UTMA accounts can also include a greater range of assets than UGMA accounts.

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