Series 26: UGMA And UTMA Accounts

Taken from our Series 26 Online Guide

UGMA and UTMA Accounts

Most states have enacted a Uniform Transfers to Minors Act, which supplements or replaces their previous Uniform Gifts to Minors Act. An UGMA/UTMA account is an account opened by an adult on behalf of a minor, in order to save and invest for the minor’s needs. The adult is known as the custodia

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