Is Florida a UGMA or UTMA state?

Overview of The Florida Uniform Transfers to Minors ActFlorida's version of UTMA, adopted with a few tweaks at Florida Stat.

US Legal Forms
Localized Forms
Florida
Hillsborough
Transfer of Property under the Uniform Transfers to Minors Act

Hillsborough Florida Transfer of Property under the Uniform Transfers to Minors Act

Name: Hillsborough Florida Transfer of Property under the Uniform Transfers to Minors Act
Brand: US Legal Forms
Rating: 4.79 (209 reviews)

Category:

Family Law - Minors - Custodial Trust Act

State:

Multi-State

County:

Hillsborough

Control #:

US-00580BG

Format:

Instant download

Description

The following form is a simple transfer of personal property pursuant to the (UTMA). It also provides for a receipt to be signed by the Custodian.

Letter from Tenant to Landlord about Landl...

View this form

Waiver and Nondisclosure Agreement of Exec...

View this form

Notice to Terminate Month-to-Month Lease -...

View this form

Permission To Enter Or Access Private Prop...

View this form

Sample Letter for Request a Retraction or ...

View this form

Lease Subordination Agreement

View this form

Property or Boundary Line Agreement

View this form

Sample Letter for Happy Sweetest Day

How to fill out Hillsborough Florida Transfer Of Property Under The Uniform Transfers To Minors Act?

Whether you intend to open your business, enter into an agreement, apply for your ID update, or resolve family-related legal concerns, you need to prepare specific documentation meeting your local laws and regulations. Finding the correct papers may take a lot of time and effort unless you use the US Legal Forms library.

The service provides users with more than 85,000 expertly drafted and checked legal documents for any individual or business occasion. All files are grouped by state and area of use, so opting for a copy like Hillsborough Transfer of Property under the Uniform Transfers to Minors Act is fast and straightforward.

The US Legal Forms library users only need to log in to their account and click the Download key next to the required template. If you are new to the service, it will take you a couple of additional steps to obtain the Hillsborough Transfer of Property under the Uniform Transfers to Minors Act. Follow the guide below:

Make certain the sample meets your individual needs and state law requirements.
Read the form description and check the Preview if there’s one on the page.
Utilize the search tab specifying your state above to locate another template.
Click Buy Now to get the file when you find the right one.
Select the subscription plan that suits you most to continue.
Sign in to your account and pay the service with a credit card or PayPal.
Download the Hillsborough Transfer of Property under the Uniform Transfers to Minors Act in the file format you prefer.
Print the copy or complete it and sign it electronically via an online editor to save time.

Forms provided by our library are multi-usable. Having an active subscription, you are able to access all of your previously purchased paperwork whenever you need in the My Forms tab of your profile. Stop wasting time on a endless search for up-to-date formal documents. Sign up for the US Legal Forms platform and keep your paperwork in order with the most extensive online form collection!

Form Rating

4.79

Satisfied(209)

Form popularity

FAQ

Effective July 1, 2015, Florida Statute 710.123 allows the custodian of a UTMA account to delay effective control of the assets until age 25 rather than the automatic transfer of control when the beneficiary turns 21.

Transferring an UTMA account Generally, the UTMA account transfers to the beneficiary when they become a legal adult, which is usually age 18 or 21, but it can be later. The age of adulthood may be defined differently for custodial accounts, like UTMAs or 529 plans, depending on your state.

Florida UTMA and Custodial Account (FUTMA)The most common method of gifting assets to a minor child in Florida is through a FUTMA, or UTMA, which is a custodial account for the benefit of the child. The Florida Uniform Transfers To Minors Act (FUTMA) explains how someone can open a custodial account for a minor.

When the minor beneficiary of an UTMA custodial account reaches the age of majority, the custodianship is over, and they get legal control over everything that's in the account. It's important to note that the age of majority is slightly different in each state.

Minors can be named as a beneficiary in your estate plan. However, they cannot legally own or take possession of the property until they reach the age of majority. The age of majority in Florida is eighteen (18) years of age.

UGMA accounts can be opened through a bank or brokerage institution. Friends and family can make contributions to the accounts, which carry no contribution limits or income limits.

Overview of The Florida Uniform Transfers to Minors ActFlorida's version of UTMA, adopted with a few tweaks at Florida Stat.

Florida is among a few states that allow UTMA accounts to remain intact until the minor reaches age 25, but only if the transferor clearly expresses an intent for the account to continue for the longer period.

Florida's Uniform Transfers to Minors Act (UTMA) directs the process for the creation of custodial accounts for gifts, bequests or other transfers to minors. Under the UTMA, minors are defined as persons under the age of 21.

Under the Texas Uniform Gifts to Minors Act (UTMA), children's future assets will be held in a custodial account until they reach the age of 21. Although the person you name as a guardian may also act as the custodian, it may be preferable to separate the roles.

Interesting Questions

More info

C) Petition for Change of Name (Minor Children), Form 12.982(c). Public library or in a law library at your county courthouse or a law school in your area.Instead of transferring property directly to a minor, what the Uniform Transfers to Minors Act authorizes is custodianship. For example, maintaining children's playthings or a storage shed on adjacent property improves its protection. Someone has to be in charge of that account, but instead of calling that individual a trustee the statute calls the person a custodian. Proceeds of revenue bonds issued under this act. Which is located in the Campus Police and Security Building, 3800 Hillsborough Street,. Out-of-state customer; lia bility. Fund to which beer license tax should be distributed.

Hillsborough Florida Transfer of Property under the Uniform Transfers to Minors Act

Description

Related forms

Viewed forms

How to fill out Hillsborough Florida Transfer Of Property Under The Uniform Transfers To Minors Act?

Show more info

Form Rating

Form popularity

FAQ

At what age do UTMA accounts transfer in Florida?

At what age does a UTMA account transfer?

Does Florida have UTMA or UGMA?

What happens to a UTMA account when the minor turns 18?

Can a minor own property in Florida?

Do UGMA accounts still exist?

Is Florida a UGMA or UTMA state?

Is Florida a UTMA state?

What is the UTMA age in Florida?

What is the Texas Uniform Transfers to Minors Act?

Interesting Questions

What is the Uniform Transfers to Minors Act (UTMA)?

What is the purpose of the UTMA?

How does the UTMA work in Hillsborough for transferring property to minors?

How old does a minor need to be in Hillsborough to receive the transferred property?

Can anyone transfer property under the UTMA in Hillsborough?

What types of property can be transferred under the UTMA?

More info

Trusted and secure by over 3 million people of the world’s leading companies