|
gptkbp:instanceOf
|
financial account type
|
|
gptkbp:age
|
18
21
25
|
|
gptkbp:allows
|
transfer of financial assets to minors
|
|
gptkbp:benefit
|
minor child
|
|
gptkbp:custodian
|
adult manages assets until minor reaches age of majority
|
|
gptkbp:dateEnacted
|
gptkb:United_States
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
UTMA
|
|
gptkbp:irrevocable
|
true
|
|
gptkbp:limitation
|
cannot be transferred back to donor
funds must be used for benefit of minor
|
|
gptkbp:originatedIn
|
1986
|
|
gptkbp:purpose
|
hold and protect assets for minors
|
|
gptkbp:replacedBy
|
gptkb:Uniform_Gifts_to_Minors_Act
|
|
gptkbp:standsFor
|
gptkb:Uniform_Transfers_to_Minors_Act
|
|
gptkbp:successorCustodian
|
can be named in account documents
|
|
gptkbp:supportsAsset
|
real estate
cash
patents
fine art
securities
|
|
gptkbp:taxStatus
|
income taxed at minor's rate
subject to Kiddie Tax rules
|
|
gptkbp:transferability
|
assets become property of minor
|
|
gptkbp:usedFor
|
gifts
inheritance
college savings
|
|
gptkbp:variant
|
gptkb:state_order
|
|
gptkbp:bfsParent
|
gptkb:Uniform_Transfers_to_Minors_Act
|
|
gptkbp:bfsLayer
|
7
|