Legal Question in Wills and Trusts in New Jersey

UTMA'S and Settlements for Minors

Does anyone know if,in N.J., proceeds from lawsuit judgement

for minors can be put into a custodial account via the

use of the Uniform Transfers to Minors Act?

It seems the UTMA has provisions which seem to indicate that

this can be done without Guardianship, Court Order or Bond.

If this is so, how does one go about using it?

Thanks, any information you could offer will be helpful.


Asked on 10/01/02, 3:22 pm

1 Answer from Attorneys
Jonathan Chester The Law Office of Jonathan S. Chester, Esq., LLC

Re: UTMA'S and Settlements for Minors

It may be possible but would likely require court approval. If possible, you should have the judgment specify that the payment is to be made to the Custodian of a designated Minors Account.

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Answered on 10/01/02, 4:54 pm


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