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915 Sullivan Ave Suite #7

South Windsor, CT 06074

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Uniform Gift to Minors Act (UGMA)

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An act available in some states that allows assets to be held in a custodian’s name for the benefit of a minor without the need to set up a trust. Once the child to whom the assets have been gifted reaches the age of maturity in his or her state, the assets become his or her property and can be used for any purpose.

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