There are several court opinions holding that the assets held in a Uniform Transfers to Minors Act (UTMA) account are subject to federal estate tax upon the death of the donor when the donor is serving as the custodian for...
The Advisory Committee on Decedents’ Estates Laws of the Joint State Government Commission has released a new report recommending changes to the Probate, Estates and Fiduciary Code (Title 20 Pa.C.S.) and Title 20 Pa.C.S. (Corporations and Unincorporated Associations). Proposed changes … Continue reading
Mother used Uniform Transfers to Minors custodial funds to purchase a home in her own name. Although children lived in home for at least part of the time, mother was ordered to pay over to the children the entire proceeds … Continue reading
Custodian/mother of minor’s fund held under PA’s Uniform Transfers to Minors Act filed account to which minor’s father filed objections. The court found that custodial funds were properly used to provide for the minor, because the custodian lacked her own … Continue reading