An act available in some states that allows assets to be held in a custodian’s name for the benefit of a minor without the need to set up a trust. Once the child to whom the assets have been gifted reaches the age of maturity in his or her state, the assets become his or her property and can be used for any purpose.

Definition UGMA. Laws adopted by most states allowing an adult to contribute to a custodial account in a minor's name without having to establish a trust or name a legal guardian. Thus, minors ca [..]

Also called Uniform Transfer to Minors Act (UTMA) in some states. Laws adopted by most states allowing an adult to contribute to a custodial account in a minor's name without having to establish [..]

Also called Uniform Transfer to Minors Act (UTMA) in some states. Laws adopted by most states allowing an adult to contribute to a custodial account in a minor's name without having to establish a trust or name a legal guardian.

Also called Uniform Transfer to Minors Act (UTMA) in some states. Laws adopted by most states allowing an adult to contribute to a custodial account in a minor's name without having to establish [..]

Minors are not able to own property. The Uniform Gift to Minors Act (UGMA) establishes a type of trust where an adult custodian holds assets in a custodial bank or brokerage account on behalf of and f [..]

The law that allows an adult to contribute to a custodial account in a minor's name without having to establish a trust or name a legal guardian. The UGMA is called the Uniform Transfer to Minors [..]

An act available in some states that allows assets to be held in a custodian’s name for the benefit of a minor without the need to set up a trust. Once the child to whom the assets have been gifted re [..]

An act available in some states that allows assets to be held in a custodian’s name for the benefit of a minor without the need to set up a trust. Once the child to whom the assets have been gifted re [..]

An act available in some states that allows assets to be held in a custodian’s name for the benefit of a minor without the need to set up a trust. Once the child to whom the assets have been gifted reaches the age of maturity in his or her state, the assets become his or her property and can be used for any purpose.

A tax-advantaged custodial account for college savings. An adult acts as the custodian for the account and makes all the investment decisions until the beneficiary reaches the age of majority. At that [..]

This is a popular method of saving money under a child's name, based on the theory that the child has a lower tax rate than the parent. The parent or some adult family member acts as the "custodian" until the child is 21 years of age.