Pa. Estate Library : Uniform Transfers to Minors Act

Pennsylvania Estate Law Library

Uniform Transfers to Minors Act
A law allowing property to be irrevocably transferred to a minor, but controlled by another person, known as a custodian.

The account operates similarly to a trust, allowing the property to be used for the minor's benefit. Unlike a trust, UTMA does not allow any additional restrictions against the property use.

Although UTMA accounts are typically required to end when the minor reaches 18, Pennsylvania permits property transferred into a UTMA account by the authorization of a will to be retained in the UTMA account until the minor reaches 25 years old.