What is a Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) Account?

A Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) account is an account into which property is set aside for a minor’s benefit. Whether a UGMA or UTMA account is used depends on the law of the […]

Uniform Gifts to Minors Act (UGMA)Read more →