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Uniform Transfers To Minors Act Utma

Definition of "Uniform transfers to minors act (utma)"

Darin Davis
  Keller Williams Realty- Darin Davis Real Estate Group

Act in which a life insurance company is permitted to transfer the death benefit from the policy to the custodian of a minor beneficiary provided the beneficiary designation has specifically nominated the custodian to receive the death benefit on behalf of the minor.

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