0
If a minor dies, the assets held in a Uniform Gifts to Minors Act (UGMA) account would typically become part of the minor's estate and be distributed according to the minor's will or intestacy laws. The assets would be managed by the executor or administrator of the minor's estate in accordance with applicable state laws.
What else can I help you with?
What happens when a plant does not have sufficient water?
it dies
What happens to a bat's body when it dies?
same thing that happens to eveyone you retards
What happens to a balloon's pressure when put into the fridge?
it dies
What happens to a plant if the supply of C02 is cut off?
it dies.
What happens when you combine rubbing alcohol and water?
Everyone dies.
When does a New York State UGMA account belong to the minor?
18th birthday.
Can a ugma account have a margin?
No, a Uniform Gifts to Minors Act (UGMA) account cannot have a margin. UGMA accounts are custodial accounts established for minors, and they are meant to hold and manage assets for the benefit of the minor until they reach the age of majority. Since margin trading involves borrowing funds to invest, which introduces significant risk, it is not permitted in custodial accounts like UGMA.
What age do you have to be to draw money from your savings account?
18 Depending on your state, if the account is a UTMA/UGMA (Uniform Transfers to Minor/Uniform Gifts to Minor), the minor may not be able to withdraw money until s/he reaches 21.
Can a minor own stock and receive dividends on the stock?
Yes. Under uniform gifts to minors act (UGMA) an adult custodian opens account for minor and all gains are taxed under minor's rate. Minor owns account at age of majority for his state or when specified by custodian depending on rules established at time of gift.
Georgia legal age to take control of ugma?
In Georgia the age of majority is 18, however the age of termination of a UGMA or UTMA is 21.
How to take money out of UGMA accounts?
To take money out of a Uniform Gifts to Minors Act (UGMA) account, the custodian of the account must initiate the withdrawal, as minors cannot manage the account themselves. The funds can be used for the benefit of the minor, such as education or other expenses. Once the minor reaches the age of majority, they gain full control of the account and can withdraw the funds as they choose. It's important to check specific state laws, as they can vary regarding the age of majority and withdrawal processes.
What happens to Voldemort when he dies?
He dies, he stops living.
Is there a penalty to close ugma account?
Generally, no there is no penalty to close a UGMA account. However, there may be a surrender fee or an exit fee if removed in a certain time frame.
Is there a penalty for not transferring a UGMA UTMA account to the child when heshe reaches the age of majority?
Is there a penalty for not transferring a UGMA UTMA account to the child when heshe reaches the age of majority?
What happens to Konohamaru after Asuma dies?
nothing happens
What happens to Nana?
He dies.
What the Tagalog of suited?
Tagalog translation of SUITED: ugma; hiyang
