UTMA Account Is Treated Like a Trust Account
JUNE 11, 2012 VOLUME 19 NUMBER 23 The Uniform Transfers to Minors Act is almost universally known by its initials: UTMA. A version of the Act has been adopted in nearly every US state, and the few which have not adopted it have its similar predecessor, the Uniform Gifts to Minors Act (known, unsurprisingly, as […]
Uniform Transfers to Minors Act Accounts in Arizona: A Primer
JANUARY 31, 2011 VOLUME 18 NUMBER 4 One question we are frequently asked: isn’t it a good idea to set aside money for a child or grandchild, and isn’t a UTMA (Uniform Transfers to Minors Act) account a simple way to do that? OK — that’s really two questions. Our answers: Yes, it is a […]
Claim Against UTMA Custodian For Taking Funds Filed Too Late
OCTOBER 28, 2002 VOLUME 10, NUMBER 17 Allan Levine thought it was a good idea to set aside some money for his young grandchildren, Derek and Danielle Levine, and so in 1987 he established investment accounts for them. He used a popular and easy way of setting aside the money—he created accounts under the Uniform […]