Legal Question in Wills and Trusts in Massachusetts
Utma
Assets were left in the care of a
relative for a child. The money was
divided between a 529 account and a
UTMA. The will says that the assets
may be held in trust up until the age
of 35, but in MA doesn't the UTMA
have to transfer to the minor at 21?
Asked on 1/10/09, 10:50 am
1 Answer from Attorneys
Re: Utma
If the funds were not left in trust but rather in the Minor's name as UTIMA, then the funds go to the child. If the funds were part of the Trust, they can be held that way.
As described; the funds should be given to the child at 21.
Answered on 1/10/09, 1:53 pm
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