Uniform Transfers To Minors Act (UTMA) Financial Glossary

What is it? [formerly Uniform Gifts to Minors Act (UGMA)] - A law in effect in most states that governs the transfer of money or property to minors. Such transfers are irrevocable. Under UTMA, a custodian, who may also be the donor, manages the property while the minor retains full rights to the principal and income.

Finance Term Definition Added By: Abby

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