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Uniform Transfers to Minors Act (UTMA): What It Is and How It …
https://www.investopedia.com/terms/u/utma.asp
Web ResultMar 16, 2024 · The term Uniform Transfers to Minors Act (UTMA) refers to a law that allows a minor to receive gifts without the aid of a guardian or trustee. Gifts can include money, patents, royalties, real...
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UGMA & UTMA accounts | Tips for custodial accounts | Fidelity
https://www.fidelity.com/learning-center/personal-finance/custodial-account-for-kids
Web ResultJan 31, 2024 · At Fidelity, the UGMA/UTMA brokerage account offers comprehensive trading and a wide range of investments, including stocks, bonds, mutual funds, exchange-traded funds, options, CDs, and more. Here are the logistical details: The adult custodian opens the account for a specific child.
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What Is the Uniform Transfers to Minors Act (UTMA)? - The Motley Fool
https://www.fool.com/terms/u/utma/
Web ResultNov 20, 2023 · The Uniform Transfers to Minors Act, or UTMA, is a law that allows minors to receive gifts without the need to establish a separate trust. As long as there is an appointed adult custodian to...
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UTMA Accounts Explained: Rules, Custodial Brokerages and More
https://www.kiplinger.com/personal-finance/603545/hey-parents-caution-is-critical-with-utma-custodial-accounts
Web ResultOct 1, 2021 · UTMA accounts, named for the Uniform Transfers to Minors Act that governs them, offer a tax-advantaged way to gift assets to minors without the expense of setting up a trust. (And by the way,...
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UTMA & UGMA: Understanding Uniform Transfers & Gifts to Minors
https://www.nerdwallet.com/article/investing/utma-ugma
Web ResultMar 8, 2024 · UTMA and UGMA accounts are taxable investment accounts set up to benefit a minor, but controlled by an adult custodian (parent, guardian, relative, etc.) until the minor reaches their age of...
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UGMA-UTMA Account: The Benefits of One | Vanguard
https://investor.vanguard.com/accounts-plans/ugma-utma
Web ResultKey benefits of an UGMA/UTMA. There are no limits on the dollar amount of gifts or transfers that can be made to an UGMA or UTMA, but amounts above $17,000 per year ($34,000 for a married couple filing jointly) will incur federal gift tax. Unlike college savings plans, there is no penalty if account assets aren't used to pay for …
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How Do UTMA Accounts Work? – Policygenius
https://www.policygenius.com/estate-planning/utma-account/
Web ResultJan 13, 2023 · The Uniform Transfers to Minors Act (UTMA) allows an adult to transfer assets to a minor by opening a custodial account for them. This type of account is managed by an adult — the custodian — who holds onto the assets until the minor reaches a certain age, usually 18 or 21.
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Custodial Account | Plan For A Child's Future | Fidelity Investments
https://www.fidelity.com/open-account/custodial-account
Web ResultUGMA (Uniform Gifts to Minors Act)/UTMA (Uniform Transfers to Minors Act) account, is a brokerage account for investing in stocks, bonds, mutual funds, and more. It can be a great way to save on the child's behalf, or to give a financial gift.
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Uniform Transfers to Minors Act - Wikipedia
https://en.wikipedia.org/wiki/Uniform_Transfers_to_Minors_Act
Web ResultThe Uniform Transfers To Minors Act ( UTMA) is a uniform act drafted and recommended by the National Conference of Commissioners on Uniform State Laws in 1986, and subsequently enacted by all U.S. States, which provides a mechanism under which gifts can be made to a minor without requiring the presence of an …
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UTMA | Wex | US Law | LII / Legal Information Institute
https://www.law.cornell.edu/wex/utma
Web ResultUTMA. The Uniform Transfers to Minors Act (UTMA) expanded on the Uniform Gifts to Minors Act allowing all kinds of property such as bonds, real estate, and art to be transferred to minors and was adopted by most states. UTMA allows the property to be gifted to a minor without establishing a formal trust.
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