The Child's Trust, UTMA, and Pot Trust

Creating a Child's Trust in Your Will

When you make a will with WillMaker, you can set up property management for young beneficiaries who cannot or should not receive the property outright until they are older. One of your options for property management is to create a child’s trust for your minor beneficiaries. A child's trust is a legal

No Trust or UTMA for Children With a Pot Trust

If you’ve left everything–-or nearly everything--to your children in a pot trust, do not set up a child’s trust or UTMA for your children. If you've set up a pot trust, the terms of the pot trust apply to all of the property your children will receive under your will. No other property management

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. The management ends when the minor reaches age 18 to 30, depending on state law. Every state has adopted it's own version of the UTMA, often making small changes to it, like varying the

Using a Pot Trust for Young Children

When making your will with WillMaker, you can use a pot trust if you: have more than two children one of your children is under age 25, and you leave your entire estate to your children. The pot provided in the WillMaker will is a legal structure that will take effect if any of your children are under