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Uniform Transfers to Minors Act

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Instructions and help about transfers minors act

okay talking uh about an Atma account utma uniform transfer to miners act it's very similar to uh the ugma uniform gift to minors act this comes up in in our estate planning practice sometimes in our probate practice as well so I just kind of wanted to give a brief overview and answer some of the questions that we get concerning the Atma account so what is it who's it for well as the name implies mine with the word miners in it it's for individuals for kids under the age of 18. the purpose of it is really a minor can't just inherit a sum of money right if someone's under the age of 18 and either they're going to receive money maybe from a lawsuit or more typically uh from some sort of inheritance or maybe a parent or a grandparent wants to give money to a minor child well they can't just go give them the money so these utma and agma accounts were created and they're very State specific right so you know just talking very b

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