Alaska Transfer of Property under the Uniform Transfers to Minors Act
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How to fill out Transfer Of Property Under The Uniform Transfers To Minors Act?
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FAQ
All states in Region IX have repealed the UGMA and adopted the UTMA: Arizona effective 09/30/88, California effective 01/01/85, Hawaii effective 07/01/85, and Nevada effective 07/01/85.
Eight states (Florida, Virginia, Washington, Alaska, Ohio, Oregon, Pennsylvania and Tennessee) have their UTMA age of majority from 21 to 25. Wyoming's range is the widest, spanning from 21 to 30.
The Uniform Transfers to Minors Act (UTMA) is a New Jersey State law which allows custodial accounts to be established for minors with the money belonging to the minor when he reaches an age between 18 and 21, as specified by the person setting up the account. These accounts may be offered by credit unions.
Section 11.41. 320 - Custodial interference in the first degree (a) A person commits the crime of custodial interference in the first degree if the person violates AS 11.41. 330(a)(1) and causes the child or incompetent person to be (1) removed from the state; or (2) kept outside the state.
It is interesting to note that South Carolina is presently the only state in the United States to continue to have on its books a version of the Uniform Gifts to Minors Act (the ?UGMA?) ? as every other state in the country has enacted a version of the more modern Uniform Transfers to Minors Act (UTMA).
UGMA and UTMA are model laws developed and approved by the Uniform Law Commission. All states have adopted some version of either UGMA or UTMA through their state legislatures to allow for the establishment of UTMA/UGMA Accounts.
The Uniform Transfers To Minors Act (UTMA) is a uniform act drafted and recommended by the National Conference of Commissioners on Uniform State Laws in 1986, and subsequently enacted by all U.S. States, which provides a mechanism under which gifts can be made to a minor without requiring the presence of an appointed ...
Alaska. The age of majority in Alaska for UTMA/UGMA transfers ranges from 18 to 21 years of age, and may extend to 25 years of age in certain circumstances.
