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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