Uniform Transfers to Minors Act (UTMA): What It Is and How It …
2024年11月5日 · A UTMA account allows the gift giver or an appointed custodian to manage the minor’s account until the latter is of age. It also shields the minor from tax consequences on the gifts, up to a...
UGMA & UTMA accounts | Tips for custodial accounts | Fidelity
Custodial accounts help adults save and invest money on behalf of a child until the assets must be transferred to them. Learn about UGMA/UTMA accounts here.
UGMA & UTMA Accounts: What They Are, Differences - NerdWallet
2021年9月13日 · A UGMA or UTMA account is a flexible investment account that helps minors save and invest. Learn more about their benefits and drawbacks.
UTMA Accounts Explained: Rules, Custodial Brokerages and More
2021年10月1日 · 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.
Custodial Account | Plan For A Child's Future - Fidelity Investments
UGMA (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.
What is a UTMA or UGMA Account? - Saving for College
2024年3月25日 · UTMA and UGMA accounts are types of custodial accounts that allow you to save and transfer financial assets to a minor child without establishing a trust. UTMA stands for Uniform Transfers to Minors Act, and UGMA stands for Uniform Gifts to Minors Act.
UGMA-UTMA Account: The Benefits of One - Vanguard
Custodial accounts under the Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) are accounts created under a state’s law to hold gifts or transfers that a minor has received.
How Do UTMA Accounts Work? – Policygenius
2023年1月13日 · 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 …
What Is an UTMA Account and How Does It Work? - TIME
2024年7月19日 · An UTMA account is a custodial account that can be used to fund college expenses and a wide range of other expenses for a minor beneficiary.
What is UTMA and how does it work? - Facet
2023年6月1日 · UTMA accounts can be an excellent way to provide financial support and stability to minors. They can hold a variety of assets and have no contribution limits, but they also come with certain disadvantages that must be understood before taking the plunge.