Uniform Gift to Minors Act
Definition
A US federal law adopted by most US states, which establishes rights and protections related to asset contributions to an account held by an adult custodian in the name of an individual under the age of majority. The majority age limit is typically 18 or 21 years old; however, some states require the minor to reach age 25 before he is considered of majority age. See uniform transfers to minors act.
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