Stop worrying about their future and start shaping it. With our UTMA (Uniform Transfers to Minors Act) Account, you can start saving for a child now.
Receive a competitive interest and tax advantages while giving them a helping hand into adulthood. Now you can relax and get back to enjoying them in the present!
- How It Works
How it works
- Anyone can open or contribute on a child's behalf.
- This donor must appoint a custodian (trustee)
- The donor irrevocably gifts the money to the trust
- The trustee controls the money until the minor reaches the age of trust termination (Age 18 in South Dakota)
- The child can contribute to his or her own account.
- Upon reaching the age of majority (18–21, depending on the state), the beneficiary can use the assets for any purpose.
*Consult a tax advisor
**Subject to approval