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Finance Glossary

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Over 700 finance terms, Shmooped to perfection.

UTMA

Definition:

Uniform Trust to Minors Act was a law passed which allowed parents to reserve money for their kids in a tidy little legal entity which would then seamlessly pass to control of their kids by the time they were, say, 21. At that point, the kids can make their own mistakes investing instead of letting the parents make all the mistakes.

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