UTMA


Also found in: Financial.
AcronymDefinition
UTMAUniform Transfers to Minors Act (US)
UTMAUniversal Transportable Memory Association
UTMAUnited Telephone Mutual Aid Corp. (Langdon, ND)
UTMAUnion Turnpike Merchants Association (New York, NY)
References in periodicals archive ?
Within a few years of settling in the capital, Mohammad says he became nostalgic for the rustic life he led in Utma.
Luckily, most QTP plans allow assets held in UGMA and UTMA accounts to be transferred to a QTP.
Any trust company or adult other than the insured can be nominated custodian (an adult under state UTMAs is usually age 21).
Furthermore, once money is given to an UGMA or UTMA account, the money technically belongs to the child and so parents have no assurance that these monies will, in fact, be used for education funding.
Trustee can make distribution between state law age of majority and age 21 Factor UTMA Type of property Donor can make gifts of almost any type of property Dispositive Disposition must follow provisions statutory guideline Investment Custodian limited to powers investment powers specified by statute Time of Custodial assets must be distribution paid to beneficiary upon of assets reaching statutory age
The UTMA Model AL 805 saw grinder has a pre-mounted face and top grinding wheels that allow face and top grinding in one setup, the company adds.
108 to expressly include benefit plans within the UTMA statutes; and [section] 710.
However, you could distribute the income out to a UTMA account and defer the minor's use of the income until the minor is 21.
Under current financial aid formulas ESAs, UGMA, and UTMA accounts are student assets, assessed at 35 percent.
365) The UGMA and UTMA were enacted to alleviate some of these problems.
Opening UTMA or UGMA accounts aren't necessary for the Giftrust, since investments in the fund aren't considered gifts.
In lieu of flowers, family and friends may donate to the Brady and Henry Rokes UTMA Account at Family First Bank, 100 West Main Street, East Brookfield MA 01515-1500.