MLchartDataset catalogue

Uniform Transfers to Minors Act

Term · Law · MLC-T-LAW-005463

A statute adopted by most U.S. states that provides a simple and inexpensive way to transfer property to a minor without the need for a formal trust or guardianship. An adult custodian manages the property until the minor reaches the age of majority, which is typically 18 or 21, depending on state law. The custodian has fiduciary duties to the minor beneficiary.

Table 1. Record
IdentifierMLC-T-LAW-005463
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-005463",
  "term": "Uniform Transfers to Minors Act",
  "field": "Law",
  "definition": "A statute adopted by most U.S. states that provides a simple and inexpensive way to transfer property to a minor without the need for a formal trust or guardianship. An adult custodian manages the property until the minor reaches the age of majority, which is typically 18 or 21, depending on state law. The custodian has fiduciary duties to the minor beneficiary.",
  "url": "https://mlchart.com/terminology/law/uniform-transfers-to-minors-act/"
}

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