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UTMA

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!

Features

Features

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