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Uniform Gifts to Minors Account (UGMA)

What is a Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) Account?

A Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) account is an account into which property is set aside for a minor’s benefit. Whether a UGMA or UTMA account is used depends on the law of the […]

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