The minor on whose behalf the account has been established is the owner of the account. However, until the minor reaches the age of account termination under applicable state laws and in accordance with the Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA), there must be a custodian listed on the account. If the minor dies prior to reaching the age of account termination, the account is included in the minor's estate. See similar questions...

If you have established a custodial account for a child under the Uniform Gift/Transfer to Minors Act (UGMA/UTMA), you may be eligible to liquidate those assets and deposit the proceeds into a NextGen Account. Certain restrictions may apply. See the Program Description in the Enrollment Kit for more complete information. You may be able to roll over assets from another qualified tuition program or an Education IRA to a NextGen Account. See similar questions...

Yes. However, there are tax and legal consequences that you should consider. The sale of assets in the UGMA/UTMA may be considered a taxable event. You should consult your tax/legal advisor concerning any consequences of withdrawing the funds from their existing investment. In addition, the beneficiary of the UGMA/UTMA must be the beneficiary of the 529 account and cannot be changed. The account will continue to be governed by UGMA/UTMA laws. See similar questions...

Yes. An UGMA/UTMA account can be liquidated, which would be a taxable event, and the money placed into a 529 account. The custodian on an UGMA/UTMA account has the obligation to use the assets for the benefit of the child. The custodian responsibilities for those assets would still apply. See similar questions...

Funds invested in an UGMA or UTMA account (Uniform Gift to Minors Act/Uniform Transfer to Minors Act) belong to the minor. The custodian has a legal obligation to use the funds solely for the benefit of the minor. To maintain the proper ownership of these funds, a GET account must name the minor as both the account owner and the student beneficiary. You also will need to name a custodian or trustee to manage the account on the minor's behalf. See similar questions...

You can redeem assets from an UGMA/UTMA (Uniform Gift to Minors Act/Uniform Transfers to Minors Act) account, but you may be liable for income taxes on any gains upon redemption. Once the UGMA/UTMA proceeds are used to contribute to a 529 plan, the minor of the UGMA/UTMA must be named both the Account Holder and the Beneficiary of the 529 Account and cannot be changed. For more information, please consult your financial consultant. See similar questions...

Yes, provided that certain requirements are met. First, assets in an UGMA/UTMA account must be liquidated, since 529 plan accounts accept only cash contributions. You should check with your tax advisor regarding such a liquidation. Also, a Future Scholar 529 College Savings Plan account receiving assets from an UGMA/UTMA liquidation will have restrictions not present on an account that is registered otherwise. All withdrawals from the account must be made for the benefit of the beneficiary. See similar questions...

For many years, UGMAs/UTMAs were the only substantial education savings vehicles available, so many investors have built up sizable amounts in these accounts. UGMA/UTMA accounts do not have income or contribution limits. And, at least part of your earnings may be exempt from federal income tax. Some or all will be taxed at the child’s lower rate if the child is under age 18. See similar questions...

A UGMA account, or in some states, a Uniform Transfer to Minors Act (UTMA) account, is a custodial account which allows parents to irrevocably give assets to a child for tax benefits and still maintain control of the assets while the child is young. The child does get full control when he or she reaches the age of majority (ages 18-21 depending on the state). It is an inexpensive and simple alternative to a trust. See similar questions...

Many (but not all) 529 plans accept funds coming from an existing UTMA or UGMA. However, because these funds belong to the minor under a custodial arrangement, any withdrawals from the UTMA/529 account must be for the benefit of that minor only. Program rules and state laws will generally prevent you from making any beneficiary changes to the UTMA/529 account, and the minor will assume direct ownership of the account when the custodianship terminates at the age of majority. See similar questions...

this time, we don't have an artist transfer mechanism. We do plan to implement this feature in the near future though. See similar questions...

We at Alabama Credit Union are sorry for the loss of your friend or relative, and are anxious to assist you in handling the deceased owner’s account — including the filing of Life Savings Insurance benefits if the deceased was a member. Here is information that will make the process simpler: Make an appointment to visit the credit union. We’ll prepare information to assist you during your visit. See similar questions...

You can log in at our main page via the login box by entering your e-mail address and password (be sure to select 'ListOwner'). If you forgot your password, click on Forgot Login Info. See similar questions...

A successor/alternate Account Owner can be designated at the time the account is established. The Successor Account Owner will become the Account Owner in the event of the death or legal incapacity of the Account Owner. See similar questions...

A qualified Trademark owner for the purposes of the Sunrise Registration Period is anyone who holds a Trademark or Service mark applied for prior to July 11, 2005 and granted before the date of the domain name application. See similar questions...

A company can never be considered as an author of a work. However, it can become the owner, if the author creates the work within the scope of an employee's duties. A distinction between contract of employment and contract for services. In the first case the employer becomes the owner and in the second case the author becomes the owner. See similar questions...

owner is responsible for the following: electricity (which is a contract between the owner and Palmetto Electric Cooperative); telephone (which may be provided by Hargray Communications, although the resort does provide wireless internet access at each site); liability insurance the resort’s general liability policy will provide coverage for the resort and its members as a commercial operation. Members are limited to the commercial, third-party exposure only. See similar questions...