Cartoon Guy Holding Stack Of Books


ABC Blocks

A term used by the uniform transfers to minors act (utma) and uniform gifts to minors act (ugma) for the person named to manage property left or given to a child under the terms of either of those acts. the custodian manages the property until the child reaches the age specified by state law — 21, in most states. then the child receives the property outright, and the custodian has no further role in its management.

Was This Term Helpful?

0 out of 0 found this helpful

Still got a question or concern?

Click here to contact us or go back to the main Glossary page.