Uniform Transfer to
Minors Act (UTMA) & Other Irrevocable Trusts for Minors
Our Trust Department acts as a custodian of UTMA accounts and
as the Trustee of Irrevocable Trusts for Minors.
In UTMA accounts, the funds can be under the control of the custodian until
age 21.Funds can only be released to the custodian regardless of the age
of the minor.Only the
custodian can request that funds be disbursed.
Irrevocable trusts are beneficial to parents or grandparents wishing to
leave assets to minor children.Our
Trust Department team can help if you need:
§To transfer funds to minors while restricting access.
