SI KC01120.205 Uniform Gifts to Minors Act

See SI 01120.205

Upon attainment of a specified age (age of majority), minors may assume control of assets held on their behalf under either the Uniform Gifts to Minors Act (UGMA) or the Uniform Transfers to Minors Act (UTMA). In the Kansas City Region, Nebraska has the UGMA while Iowa, Kansas, and Missouri have enacted the UTMA.

Following is a list of States and the respective ages at which minors may assume control of assets held on their behalf under the UGMA/UTMA. If the minor resides in a State other than that in which the asset is held, the age at which the minor may assume control is the age specified for the State in which the asset is held.

A. IOWA

In Iowa, a minor may assume control of assets held on their behalf at age 21.

B. KANSAS

In Kansas, a minor may assume control of the property at age 21 if the donor, or someone with irrevocable power of appointment acting on behalf of the donor, transfers the property to a custodian for the benefit of the minor with the intent that such transfer is irrevocable. In addition, a minor may assume control of the property at age 21 if the transfer was made by a representative of a decedent's estate pursuant to the terms of a will or by a trustee pursuant to the terms of a trust.

In Kansas, a minor may assume control of the property at age 18 if the property was transferred to a custodian by a trustee under a trust not containing authorization for the transfer or by a representative of a decedent's estate in absence of a will or under a will not containing authorization for the transfer.

NOTE: The written document from the issuing source (donor) designating a gift under the UTMA should contain enough information to determine the appropriate age of majority. After reviewing the written document, if you have difficulty determining the age of majority, contact a SSI policy staff person in the RSI/SSI Team for guidance.

C. MISSOURI

In Missouri, a minor may assume control of the property at age 21 if the property was transferred to a custodian as a gift from the owner or from one who holds a power of appointment from the owner. However, a minor may assume control of the property at age 18 if the property was transferred in any other manner (i.e., by a representative of a decedent's estate with or without a will, by a trustee with or without the authorization of the trust, etc.).

NOTE: The written document from the issuing source (donor) designating a gift under the UTMA should contain enough information to determine the appropriate age of majority. After reviewing the written document, if you have difficulty determining the age of majority, contact a SSI policy staff person in the RSI/SSI Team, for guidance.

D. NEBRASKA

In Nebraska, a minor may assume control of assets held on their behalf at age 19.


To Link to this section - Use this URL:
http://policy.ssa.gov/poms.nsf/lnx/0501120205KC
SI KC01120.