Series 24: Uniform Transfer To Minors Act (UTMA) Account

Taken from our Series 24 Online Guide

Uniform Transfer to Minors Act (UTMA) Account

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 up to age 25. UTMA accounts can also include a greater range of assets than UGMA accounts.

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