1.2.2.6.2 Uniform Transfers to Minors Act (UTMA) Account
UTMA accounts are similar to UGMA accounts, although UTMA accounts can include a greater range of assets than UGMA accounts, including money, life insurance, stocks, and annuities. Also in contrast to an UGMA account, an UTMA account allows the custodian to name a transfer age beyond the age of majority in the state and may be as high as age 25; the age limit varies by state.