Gifts to Minors Act

• Gifts to Minors Act

The Gifts to Minors Act has been enacted in every state (with only minor variations) that facilitates the management of money given t...

• West's Encyclopedia of American Law
• Fri–Jam

• in Re: Hedged-Investments Associates, Inc., Debtor. Harvey Sender, Trustee, Plaintiff-Appellant, v. Estill H. Buchanan, A/K/a Mary Estill Buchanan, Individually, and as Trustee of the Estill H. Buchanan Trust and as Custodian for Catharine Buchanan and Helen Buchanan Under the Uniform Gifts To Minors Act, Defendant-Appellee., 84 F.3d 1281 (10th Cir. 1996)

John B. Wasserman (Melody Dawson, with him on the briefs) of Katch, Sender & Wasserman, P.C., Denver, Colorado, for Plaintiff-Appellant. Bruce E. Roh...

• Federal Circuits

• Children Are Our Future, Invest in Yours

Uniform Gifts to Minors Act and Uniform Transfer to Minors Act is another investment vehicle that can be used to save for college expenses. There is no limit on the contribution. However, once the contribution exceeds $12,000 there are potential gift taxes to the donor. There are strategies that can be used to escape potential gift taxes. UGMAs and UTMAs are not restricted to college related savings. Money from these investment vehicles can be used to cover medical expenses, summer camp or other child related expenses. Both UGMAs and UTMAs are not as attractive as they were in the past. The big attraction in the past was that the majority of the earnings in these plans would be taxed at the child's tax, which was generally lower than the parents. This is known as the "kiddie tax." A new...

• New Pittsburgh Courier; City Edition
• August 21, 2009

• in Re Hedged-Investments Associates, Inc., Debtor. Harvey Sender, Trustee, Plaintiff-Appellee, v. Estill H. Buchanan, A/K/a Mary Estill Buchanan, Individually, and as Trustee of the Estill H. Buchanan Trust and as Custodian for Catharine Buchanan and Helen Buchanan Under the Uniform Gifts To Minors Act, Defendant-Appellant., 84 F.3d 1286 (10th Cir. 1996)

Melody Dawson of Katch, Sender & Wasserman, P.C., Denver, Colorado, for Plaintiff-Appellee. Bruce E. Rohde of Davis & Ceriani, P.C., Denver, Colorado...

• Federal Circuits

• 12 CFR 9.2 - Definitions.

...(c) Custodian under a uniform gifts to minors act means a fiduciary relationship estab...

• Code of Federal Regulations - Title 12: Banks and Banking

• Roselyn Kahn, Jan Kahn, Individually and as Custodian for Brad Michael Kahn and Brendan Adam Kahn Under the Uniform Gifts To Minors Act, Craig Kahn, Individually and as Custodian for Alex Kahn Under the Uniform Gifts To Minors Act, Jan Kahn and Craig Kahn as Trustees for and on Behalf of Four Seasons Manufacturing Co., Inc., Pension Trust & Jan and Craig'S Window Factory, Ltd., By Its Trustee Ronald Lipshie, Plaintiffs-Appellants, v. Chase Manhattan Bank, N.A., Thomas J. Greene, Woodmere Securities, Inc., Richard Kahn, Bruce C. Black, Sheppard Messing, Jeffrey P. Berg, Matthias & Berg and Michael R. Matthias, Defendants-Appellees., 91 F.3d 385 (2nd Cir. 1996)

Frederick R. Dettmer, New York City (Karen M. Streisfeld, Law Office of Frederick R. Dettmer, New York City, Neil Friedkin, Lamendola & Friedkin, Grea...

• Federal Circuits

• The uglier side of the UGMA.

Uniform Gifts to Minors Act

• The Tax Adviser
• Vol. 35 Nbr. 7, July 2004

• Fed. Sec. L. Rep. P 95,015 Jeff Simon, as Custodian for Gail Nina Simon Under the New York Uniform Gifts To Minors Act, Plaintiff-Appellant, v. the New Haven Board & Carton Company, Incorporated Et Al., Defendants-Appellees., 516 F.2d 303 (2nd Cir. 1975)

Herbert L. Scharf, New York City (Alfred Olonoff, Harold Bobroff and Bobroff, Olonoff & Scharf, New York City, on the brief), for plaintiff-appellant....

• Federal Circuits

• The Truth About Money: Stock Investments, Knowledge Good for Kids

My 10-year-old daughter eceived $100 and a subscription to The Wall Street Journal from her aunt for Christmas. She's picked a few stocks to invest in, but we don't know who o talk to in order to invest her money. Although it is "fun money," she does plan to buy, hold and invest more in the future (from her allowance). Who do we call to get started? You can open an account with an online discount broker. Because your daughter is a minor, you'll need to establish an account under the Uniform Gifts (or Transfers) to Minors Act, naming yourself as custodian on her behalf. This makes the account hers, but with your oversight, until she's 18 to 21 years old. But $100 is not enough, because you'll want to buy several shares of each stock, and commissions will ding you for each transaction. Yo...

• Maryland Gazette
• January 16, 2008

• Setting Money Aside for Children's Tuition Can Be a Challenge

Figuring where you'll get the money to pay tuition can be a series of challenging calculations, and recent tweaks to the federal student-loan program, tax law and financial-aid formulas have altered the equation. If, for example, you are among the parents who thought they were getting a tax break when they put money into custodial accounts for their kids under the Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA), think again.

• Deseret News (Salt Lake City)
• December 11, 2006