The Uniform Transfers to Minors Act allows gift givers to transfer money, real estate or fine art to minors without the need for a guardian or trustee. UTMAs, a tax efficient gifting option, are an inexpensive way to give minors a financial leg-up, but there are limitations and cautionary notes you need to consider. CFN’s John Walker is joined by Kathy Mandelbaum, Associate Professor of Law at Temple University. They discuss this tax efficient gifting option and detail the pros and cons you need to know.
Listening Time: 27 minutes