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At what age do UTMA accounts transfer in Florida?

Age of Majority and Trust Termination StateUGMAUTMADelaware1821District of Columbia1818Florida1821Georgia212149 more rows

Is Florida a UTMA state?

Florida is among a few states that allow UTMA accounts to remain intact until the minor docHubes age 25, but only if the transferor clearly expresses an intent for the account to continue for the longer period.

Can UTMA be transferred to another child?

There is no ability to transfer a UGMA or UTMA account to another child or to change beneficiaries. You are not supposed to use a UTMA-529 or UGMA-529 account conversion to change the beneficiary either because that would equate to giving your childs money to someone else.

Are UTMA accounts transferable?

UGMA/UTMA account assets can be transferred into a new account established by the now adult beneficiary as a sole or joint owner. To get an account application, contact your financial professional or find one by using our financial professional locator. For additional assistance, contact us.

Can UTMA be transfer before age of majority?

Transferring an UTMA account Generally, the UTMA account transfers to the beneficiary when they become a legal adult, which is usually age 18 or 21, but it can be later. The age of adulthood may be defined differently for custodial accounts, like UTMAs or 529 plans, depending on your state.

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