Financial Glossary

Here you’ll find clear and concise explanations of key financial terms and concepts. Our goal is to help you better understand essential topics across the financial world.

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August Jepsen August Jepsen

Uniform Transfers to Minors Act (UTMA) Account

An UTMA account is a custodial account established under the Uniform Transfers to Minors Act, allowing an adult to manage and invest assets—such as cash, stocks, real estate, or art—on behalf of a minor until the child reaches adulthood (usually 18 or 21, depending on state law). Assets transferred into a UTMA account irrevocably belong to the minor, and the custodian oversees the account until ownership transfers at the age of majority.

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