Gifts to minors which qualify as present interest gifts - Uniform Gifts
to Minors until age 18
Uniform Gifts to Minors until age 18 -
You can make a present interest gift to a minor where a custodian holds
bare legal title, collects and invests income and invests proceeds of any
sales of assets using the prudent man rule. The custodian may use the property
to support, maintain, educate or for any other benefit to the minor. The
minor must be vested absolutely in equitable title at the time of the gift
and legal title must vest at the age of majority (determined by each state
- in NH the age of majority is 18). Due to this age limitation, many donors
are wary of handing an 18 year old substantial a sum of money without strings.
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