A UGMA or UTMA account allows the assets to be taxed at the minor's income tax bracket. With the increase in the age from 18 to 24 where the kiddie tax is imposed, the tax advantage of a UGMA or UTMA is decreased.
Definition: The UTMA was an extension to the UGMA that expanded the rights of minors to own other forms of property, such as collectibles and real estate. Advice: The UTMA has pretty much replaced the UGMA.
The Uniform Transfer to Minors Act, or UTMA, is a set of laws that are usually enacted at state level in the United States.
-U- Uniform Gifts to Minors Act (UGMA)/Uniform Transfer to Minors Act (UTMA)
Adopted by most states, the act permits a parent or guardian to give cash or securities to a minor child.
Unit Investment Trust ...
Uniform Transfers to Minors Act (UTMA)
Definition:
A law similar to the Uniform Gifts to Minors Act that extends the definition of gifts to include real estate, paintings, royalties, and patents. ...
Uniform Transfers to Minors Act - UTMA
An extension of the Uniform Gifts to Minors Act that allows items other than cash or securities to be considered gifts.
Unrelated Business Taxable Income - UBTI ...
Uniform Transfers to Minors Act (UTMA): Similar to UGMA, this law expands the UGMA to sanction irrevocable transfer of gifts besides cash, investments, or insurance to a minor through custodial account.
you've given up some long-term control (as well as ownership), but it's usually a better deal from a tax standpoint. There are two kinds of custodial accounts: the Uniform Gift to Minors Act (UGMA) and the Uniform Transfers to Minors Act (UTMA).
Other tax-advantaged ways to save for college include Coverdell education savings accounts, Uniform Gifts to Minors Act ("UGMA") accounts, Uniform Transfers to Minors Act ("UTMA") accounts, tax-exempt municipal securities, and savings bonds.
Uniform Transfer to Minors Act UTMA. A law extending the Uniform Gift to Minors Act's definition of a gift... uninsured motorist coverage An automobile policy option that covers a motorist for property damage and bodily...
 See also: Transfer, Stock, UGMA, Investment, Asset
  
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