South Dakota Estate Planning - What Are UGMA and UTMA Accounts?

Brooke Swier Schloss
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Family Law and Estate Planning attorney helping families across South Dakota plan and protect their loved ones


UGMA and UTMA accounts are accounts in which a custodian holds assets for a minor. An UGMA account is one under the Uniform Gift to Minors Act.

An UTMA account is one under the Uniform Transfers to Minors Act. States which have such accounts have rules which can vary slightly.

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