UTMA
Law & Legal abbreviation · Estate and Family Law
| Stands for | Uniform Transfers to Minors Act |
|---|---|
| Categories | Law & Legal |
UTMA stands for Uniform Transfers to Minors Act, an estate and family law abbreviation also used in business.
Uniform state law, adopted in nearly every state, that allows gifts of money, securities, real estate and other property to a minor through a custodian who manages the assets until the child reaches the age set by state law, usually 18 or 21 and in some states up to 25. No formal trust document is needed.
Example: Grandma opened a UTMA account with $10,000 in index funds for her granddaughter.
Usage notes
Approved by the Uniform Law Commission in 1986 to replace the narrower UGMA. Gifts are irrevocable and belong to the child, who gains full control at the termination age. Investment income may be subject to the kiddie tax, and the assets weigh heavily against the student in financial aid formulas. Accounts are titled along the lines of "Jane Doe, custodian for John Doe under the Ohio UTMA".
Related abbreviations
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- AHCD – Advance health care directive
- CASA – Court Appointed Special Advocate
- CHINS – Child in need of services
- CLT – Charitable lead trust
- CPS – Child Protective Services
- CRT – Charitable remainder trust
- DAPT – Domestic asset protection trust
- dec'd – Deceased
- DPOA – Durable power of attorney
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- EPA – Enduring power of attorney
- EPO – Emergency protective order
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This entry is for general education and is not legal advice. Abbreviation use varies between institutions; always confirm in context.