What is the difference between UGMA and UTMA? - ProProfs Discuss
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What is the difference between UGMA and UTMA?

Asked by T. Lopez, Last updated: Jan 14, 2020

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I. Woods

I. Woods

Answered Aug 16, 2019

UGMA stands for Uniform Gift to Minors Act. UTMA means Uniform Transfer to Minors Act. These are things that can be given to minors to ensure that they will be secure without the need to have a trust fund. There are some differences between the two. One of the main differences is the number of years that it will take before the plan...Read More
 

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