Using a Pot Trust for Young Children
When making your will with Nolo’s Online Will, you can use a pot trust if you:
Creating a Child's Trust in Your Will
You can set up property management for any beneficiary younger than age 35.
The Uniform Transfers to Minors Act
The Uniform Transfers to Minors Act (UTMA) allows you to name a custodian to manage property you leave to a minor.
Choosing Among Property Management Options
For each minor or young adult to whom you leave property through Nolo’s Online Will, you must decide which management approach to use: the UTMA, a child’s trust or the pot trust.
No Trust or UTMA for Children With a Pot Trust
If you use a pot trust, you don't need to set up an UTMA or a child's trust for your children.