what is






 

Question by  sydsam (18)

What is the California UTMA law?

 
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Answer by  Caenaise (165)

The California Uniform Transfers to Minors Act (CUTMA) allows someone (usually a parent, but that's not mandatory) to give money to a child. The custodian holds the money and controls it until the child turns a certain age, up to age 21 in California. After the child reaches that age, the money belongs to the child without restriction.

 
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