UGMA
Law & Legal abbreviation · Estate and Family Law
| Stands for | Uniform Gifts to Minors Act |
|---|---|
| Categories | Law & Legal |
UGMA stands for Uniform Gifts to Minors Act, an estate and family law abbreviation also used in business.
Uniform state law, first approved in 1956, that allows gifts of cash and securities to a minor through a custodian without a formal trust. The custodian manages the account until the child reaches the age of majority set by state law.
Example: The brokerage still titles her old account "custodian under the New York UGMA".
Usage notes
Unlike UTMA, UGMA generally limits gifts to financial assets such as cash, securities and insurance policies, not real estate. Most states have replaced UGMA with UTMA, but older accounts keep the UGMA designation. As with UTMA, gifts are irrevocable and the child takes control at the termination age.
Related abbreviations
More estate and family law abbreviations
- AHCD – Advance health care directive
- CASA – Court Appointed Special Advocate
- CHINS – Child in need of services
- CLT – Charitable lead trust
- CPS – Child Protective Services
- CRT – Charitable remainder trust
- DAPT – Domestic asset protection trust
- dec'd – Deceased
- DPOA – Durable power of attorney
- DVRO – Domestic violence restraining order
- EPA – Enduring power of attorney
- EPO – Emergency protective order
See all 50 estate and family law abbreviations →
This entry is for general education and is not legal advice. Abbreviation use varies between institutions; always confirm in context.