What does the Uniform Transfers to Minors Act establish?
A)rights for what a minor is allowed in case of inheritances without involving custodians
B)rights for what a minor can accept from an adult
C)procedures for adults to make gifts of money and securities to minors
D)procedures for making gifts of money and securities between minors

Question

Quizplus · Accepted Answer

The Uniform Transfers to Minors Act establishes procedures for adults to make gifts of money and securities to minors. It allows the transfer of assets to minors without involving a formal trust or guardianship, instead creating a custodianship for the minor until they reach a certain age. The act also provides a framework for managing and investing the assets for the minor's benefit.

What Does the Uniform Transfers to Minors Act Establish