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Reference 2.

Donee's Age at Which Custodianship Established Under the Uniform Gifts To Minors Act (UGMA) or the Uniform Transfers To Minors Act (UTMA) Ends

Note: This table is designed to reflect provisions relevant to custodianships entered into today.

Alabama. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. Age of majority (generally 19) or earlier death for other transfers. See Ala. Code [section][section]35-5A-21, 26-1-1.

Alaska. Generally 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust; however, age may be changed to any age from 18 through 25--but in the case of a transfer by irrevocable gift, the use of an amended age may be made subject to the minor's right to compel, during the six-month period beginning on the minor's 21st birthday, immediate distribution. 18 or earlier death for other transfers. See Alaska Stat. [section][section]13.46.190, 13.46.195. Special rules apply to stock held under the Alaska Native Claims Settlement Act. See Alaska Stat. [section]13.46.085(e).

Arizona. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See Ariz. Rev. Stat. Ann. [section]14-7670.

Arkansas. Generally 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust; however, for any such transfer, the applicable age may be lowered to any age between 18 and 21. 18 or earlier death for other transfers. See Ark. Code Ann. [section]9-26-220.

California. Generally 18 or earlier death. However, termination may be delayed for custodianships established by a revocable nomination of a custodian (not later than age 25), an irrevocable lifetime gift (not later than age 21), an irrevocable exercise of a power of appointment (not later than age 25), a transfer authorized in a will or trust (not later than age 25), or any other transfer (not later than age 25 or earlier termination). See Cal. Prob. Code [section][section]3920, 3920.5.

Colorado. 21 or earlier death. See Colo. Rev. Stat. [section]11-50-121.

Connecticut. 21 or earlier death. See Conn. Gen. Stats. Ann. [section]45a-559e.

Delaware. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See Del. Code Ann., tit. 12, [section]4520.

District of Columbia. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See D.C. Code Ann. [section]21-320.

Florida. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See Fla. Stat. Ann. [section]710.123.

Georgia. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. Age of majority (generally 18) or earlier death for other transfers. See Ga. Code Ann. [section][section]44-5-130, 39-1-1(a).

Hawaii. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See Haw. Rev. Stat. [section]553A-20.

Idaho. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See Idaho Code [section]68-820.

Illinois. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will, trust, or other governing instrument. Age of majority (generally 18) or earlier death for other transfers. See 760 ILCS 20/21,755 ILCS 5/11-1.

Indiana. 21 or earlier death. See Ind. Code Ann. [section]30-2-8.5-35. Iowa. 21 or earlier death. See Iowa Code Ann. [section]565B.20.

Kansas. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See Kan. Stat. Ann. [section]38-1721.

Kentucky. 18 or earlier death. See Ky. Rev. Stat. Ann. [section]385.202.

Louisiana. 18, earlier judicial emancipation, or earlier death. See La. Rev. Stat. Ann. [section]9:770.

Maine. Generally 18 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust; however, for any such transfer, the custodianship may be extended to a later age but not beyond 21. Age of majority (generally 18) or earlier death for other transfers. See Me. Rev. Stat. Ann. 33, [section]1671;1,[section][section]72, 73.

Maryland. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, transfers authorized in a will or trust, transfers by a personal representative or trustee in the absence of a will or under a will or trust that does not authorize such a transfer, or transfers by a conservator. 18 or earlier death for other transfers. See Md. Est. & Trusts Code Ann. [section]13-320.

Massachusetts. 21 or earlier death for transfers pursuant to a revocable nomination of a custodian to receive property upon the occurrence of a future event, transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. Age of majority (generally 18) or earlier death for other transfers. See Mass. Ann. Laws ch. 201A, [section]20; ch. 4, [section]7; ch. 231, [section]85P.

Michigan. Generally 18 or earlier death, however, for any such transfer, the custodianship may be extended to a later age, but not beyond 21. See Mich. Comp. Laws Ann. [section][section]554.546, 547.

Minnesota. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See Minn. Stat. Ann. [section]527.40.

Mississippi. 21 or earlier death for transfers by irrevocable lifetime gifts, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See Miss. Code Ann. [section]91-20-41.

Missouri. 21 or earlier death, except that for custodial property created by a transfer from a person other than a donor custodianship ends on the minor's attaining the age of 18 and requesting the property (or earlier death). See Mo. Ann. Stat. [section]404.051(5)(1).

Montana. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See Mont. Code Ann. [section]72-26-803.

Nebraska. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. Age of majority (generally 19) or earlier death for other transfers. See Neb. Rev. Stat. [section]43-2721, [section]43-2101.

Nevada. Generally 18 or earlier death. However, for a transfer by irrevocable lifetime gift, the custodianship can be extended to an age not later than the age of 21 (or earlier death); for a transfer by irrevocable exercise of a power of appointment, for a transfer authorized in a will or trust, or for a future transfer pursuant to a revocable nomination of custodian, the custodianship can be extended to an age not later than the age of 25 (or earlier death). See Nev. Rev. Stat. Ann. [section][section]167.034,167.095.

New Hampshire. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See N.H. Rev. Stat. Ann. [section]463-A:20.

New Jersey. Generally 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust; however, for any such transfer, the transferor (at the time of the transfer) (it is not clear whether this includes personal representatives or trustees making transfers authorized in wills or trusts) or the governing will or trust may direct that the custodianship end at an earlier age "after the minor attains the age of 18 years"; furthermore, a custodian may in his discretion terminate a custodianship any time after the minor reaches 18, but this power may not be exercised prior to a termination age fixed by the transferor--it is not clear whether this prohibition extends to termination ages fixed by governing wills or trusts. Age of majority (generally 18) or earlier death for other transfers. See N.J. Stat. Ann. [section][section]46:38A-52, 46:38A-31, 9:17B-1, 9:17B-3.

New Mexico. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. Age of majority (generally 18) or earlier death for other transfers. See N.M. Stat. Ann. [section][section]46-7-31, 28-6-1.

New York. 21, or earlier death for transfers by irrevocable gift, by irrevocable exercise of a power of appointment or transfers authorized in a will or trust. 18 or earlier death for other transfers. See N.Y. Est. Powers & Trusts Law [section][section]7-6.20.

North Carolina. Generally 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust; however, for any such transfer, the custodianship may be shortened and may terminate after the age of 18 and before the age of 21. 18 or earlier death for other transfers. See N.C. Gen. Stat. [section]33A-20.

North Dakota. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See N.D. Cent. Code [section]47-24.1-20.

Ohio. Generally 21 or earlier death. However, if the donor or the transferor specifies an earlier age between 18 and 21 for the custodianship to end, the custodianship ends at that age or the minor's earlier death. See Oh. Rev. Code Ann. [section]5814.04(D).

Oklahoma. Generally 18 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust; however, for any such transfer, the custodianship may be lengthened so that it terminates. Age of majority (generally 18) or earlier death for other transfers. See Okla. Stat. Ann. tit. 58, [section]1221; tit. 15, [section]13; tit. 10, [section]91.

Oregon. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See Or. Rev. Stat. [section]126.869.

Pennsylvania. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. Age of majority (generally 21) or earlier death for other transfers. See 20 Pa. Cons. Stat. Ann. [section]5320; 1 Pa. Cons. Stat. Ann. [section]1991.

Rhode Island. 18 or earlier death. See R.I. Gen. Laws [section]18-7-21.

South Carolina. 21 or earlier death. Custodian has discretion after age 18. See S.C. Code Ann. [section]63-5-540(4).

South Dakota. 18 or earlier death. See S.D. Codified Laws [section]55-10A-22.

Tennessee. Generally 21 or earlier death. Custodianship can be extended to a later age up to age 25, but extending custodianship beyond age 21 requires declaration that deferral of termination will cause the transfer to be a gift of a future interest, if the gift is an inter vivos gift, which may have adverse federal and state gift tax consequences. See Tenn. Code Ann. [section]35-7-121.

Texas. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. Age of majority (generally 18) or earlier death for other tranfers. See Tex. Prop. Code Ann. [section]141.021;Tex. CP&R Code [section]129.001.

Utah. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. Age of majority (generally 18) or earlier death for other transfers. See Utah Code Ann. [section][section]75-5a-121, 15-2-1.

Vermont. Age of majority (generally 18) or earlier death. See Vt. Stat. Ann. tit. 14, [section]3204(d); tit. 1, [section]173.

Virginia. Generally 18 or earlier death. However, for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust may be extended to end at age 21 or earlier death. See Va. Code Ann. [section]31-56.

Washington. Generally 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust, however, the custodianship can be extended to an age not later than the age of 25. 18 or earlier death for other transfers. See Wash. Rev. Code Ann. [section]11.114.200.

West Virginia. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. Age of majority (generally 18) or earlier death for other transfers. See W. Va. Code [section][section]36-7-20, 2-3-1.

Wisconsin. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. 18 or earlier death for other transfers. See Wis. Stat. Ann. [section]54.892.

Wyoming. 21 or earlier death for transfers by irrevocable lifetime gift, transfers by irrevocable exercise of a power of appointment, or transfers authorized in a will or trust. Age of majority (generally 18) or earlier death for other transfers. See Wyo. Stat. Ann. [section][section]34-13-133, 14-1-101(a), 8-1-102(a)(i) and 8-1-102(a)(iii).
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Title Annotation:APPENDIX D
Publication:Tax Facts on Investments
Date:Jan 1, 2011
Words:2485
Previous Article:Reference 1.
Next Article:Citations in Statutes Authorizing Durable Power of Attorney.

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