Transfers to Trust and Use of UTMA Custodial Accounts.

The article focuses on the use of custodial funds as well as examines the ability of the custodian to delay distributions beyond age 21 through the conversion of the custodial account to an irrevocable trust or by other means. It informs that the Uniform Act section 14(a) of the U.S., provides that a custodian may pay or deliver to the minor or expend for the minor's benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor.