How Does An UTMA Account Work?
The Uniform Transfers to Minors Act -- a well-known, but often misunderstood law. Among other things, it's not necessarily uniform. Each state (including Arizona) has its own take on the law.
Join Tucson elder law attorney Robert Fleming for an explanation of the Arizona UTMA law, and how UTMA accounts work. And remember: putting an account in an UTMA account for your child means you've already given the property away.
The UTMA designation is useful, but talk with a qualified elder law attorney before you utilize it.
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