Series 51: Uniform Transfers To Minors Act (UTMA) Accounts

Taken from our Series 51 Online Guide

Uniform Transfers to Minors Act (UTMA) Accounts

If a custodian wants the assets to transfer to the minor at a date later than the age of majority, the custodian can open an UTMA account. This allows the custodian to name a transfer age up to 21, generally, although the age limit varies by state. UTMA accounts can

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