Uniform Gift to Minors Act - definition of Uniform Gift to Minors Act - UGMA. Laws adopted by most states allowing an adult to contribute to a custodial account in a minor's name without having to establish a trust or...

An extension of the Uniform Gifts to Minors Act that allows items other than cash or securities to be considered gifts. Other gifts that minors can receive include real estate, art, patents and royalties.

Unsourced material may be challenged and removed. (December 2009) The Uniform Gifts to Minors Act Georgia? Read answer... How does Uniform Transfers to Minors Act apply to medicaid?

Gifts to a custodial account held for the benefit of a minor under the Uniform Gifts to Minors Act or the Uniform Transfers to Minors Act will qualify for the exclusion.

Accounts established under the Uniform Gift to Minors Act (UGMA) are predecessors to the now popular Section 529 plans and Coverdell ESA’s.

When a minor becomes a legal adult (18 or 21 in most states) he or she may take control of his or her Uniform Gift...

While serving as a custodian, the individual is usually granted broad managerial powers under the terms of the Uniform Gift to Minors Act. The custodian may sell assets, as long as the proceeds are used to benefit the child in some manner.

The Uniform Transfers to Minors Act (hereinafter "UTMA") like its predecessor, The Uniform Gifts to Minors Act (hereinafter "UGMA") is a comprehensive statutory scheme designed to easily allow money and property to be transferred to children.

Appendix L Uniform Gifts to Minors Act Bonds Purchased as Gifts to Minors Series EE bonds under the Georgia Transfers to Minors Act.

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It was not an easy process to begin. In addition, a trust is usually a luxury bestowed upon the very rich in modern society. However, with the advent of the Uniform Gift to Minors Act (UGMA), opening a trust in a child's name is possible for those...

UGMA. Laws adopted by most states permitting an adult to contribute to a custodial account in a minor's name without having to establish a trust or name a legal guardian.

A way you can transfer assets to a minor under the Uniform Gifts to Minors Act (UGMA) and/or Uniform Transfers to Minors Act (UTMA). Most states have established these acts, allowing adults to transfer assets to a minor.1.

It is an extension of the Uniform Gifts to Minors Act (UGMA). The Act allows the donor of the gift to transfer title to a custodian who will manage and invest the property until the minor reaches a certain age.

Uniform state laws that facilitate irrevocable gifts to a minor by eliminating the requirement of a guardian or trust. A custodian, who may be the donor, is appointed to manage the gift, but full rights to the...

Assets in the account become an irrevocable gift to the minor under the Uniform Gift to Minors Act or the Uniform Transfer to Minors Act (UGMA/UTMA). New UGMA accounts may be established in South Carolina and Vermont only.

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The Uniform Gifts to Minors Act (UGMA), superceded by the Uniform Transfers to Minors Act (UTMA) in some states, is simply a way for a minor to own property, such as securities. The UGMA/UTMA setup is commonly used to give monies to a minor.

UGMA accounts usually have a title the reads something like: John Doe Sr., Custodian for John Doe Jr., under the Uniform Gift to Minor's Act Until Age 18. Pronunciation: ugg-muh.

a state or of the United States which evidences title to tangible personal property." Additional Uniform Acts Uniform Gift to Minors Act Resources. Learn more at uniformacts.USLegal.com - More Uniform Acts Information.