The Uniform Transfers to Minors Act

minors-act">The Uniform Transfers to Minors Act (UTMA) is a law that allows adults to transfer assets, like money or stocks, to a minor without needing a trust. The assets are held in the minor's name until they reach adulthood, typically at 18 or 21, depending on the state. An adult, known as the custodian, manages the assets until the minor comes of age. This Act simplifies gifting and ensures that minors can legally own and benefit from these assets while protecting their interests until they are mature enough to handle them independently.