Page 5 - Kids & Savings Brochure
Uniform Transfer to Minors Act Account Uniform Transfer to Minors Act (UTTMA) account: The account is owned by the child but controlled by the custodian, who can be a parent or another adult. The child and the custodian must be eligible for membership. The custodian has the option to name a successor custodian to act in the event of his/her incapacity, death, resignation or removal. Funds in a UTTMA account may be released to the minor at the age of 18 and must be released when the minor reaches age 21.