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Simple English definitions for legal terms

Gifts to Minors Act

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A quick definition of Gifts to Minors Act:

The Gifts to Minors Act is a law that allows adults to give property or money to children. The Uniform Transfers to Minors Act is a newer version of this law that most states have adopted. It lets a person called a custodian manage the property and use the money to take care of the child. This law used to be called the Uniform Gifts to Minors Act or just Gifts to Minors Act.

A more thorough explanation:

The Gifts to Minors Act is also known as the Uniform Transfers to Minors Act (UTMA). It is a law that allows adults to give money or property to a minor, and appoint a custodian to manage it until the minor reaches a certain age.

For example, if a grandparent wants to give their grandchild $10,000, they can do so under the Gifts to Minors Act. They would appoint a custodian, such as the child's parent, to manage the money until the child turns 18 or 21, depending on the state.

The custodian has a fiduciary duty to manage the money or property in the best interest of the minor. They can invest the money and use the income to support the minor's needs, such as education or healthcare expenses.

The Gifts to Minors Act has been adopted in most states and was revised in 1986. It used to be called the Uniform Gifts to Minors Act, but the name was changed to better reflect its purpose.

gift-splitting election | gift-tax exclusion

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TGM
18:40
I actually do have a transcript issue that registrar needs to resolve, should I say that
TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
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hey yall
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im premed idk why im here
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we’re like cool and sexy and fun I get it
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true i love ur user
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Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
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19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
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try stretching it maybe to see what's up
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stretches make me think it's just soreness
windyMagician
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I'm sober lol
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what.jpg @Dkk
CynicalOops
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You think you just fell out of a coconut tree?
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