Uniform Transfers to Minors Act (Utma) Accounts

POSTED BY on Jun 27 under Transfer Student

Hutcheson notes that for those who can afford to make a relatively large gift to a minor to pay for college, the UTMA account permits the donor and custodian to give up to $10,000 per year ($20,000 for a married couple that chooses to split gifts) to each child as a tax-free gift.

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