The Uniform Transfers to Minors Act (UTMA) is a model law that allows you to name a custodian to manage property you leave to a minor. Model laws are created by a national organization of legal experts, and states are free to adopt them or not. For many years, all of the U.S. states had adopted the UTMA except for South Carolina. As of April 4, 2022, South Carolina became the last state to adopt the UTMA.
Learn more about ways to leave an inheritance to children, including using your state's UTMA.