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Transferring an UGMA/UTMA When Custodianship Ends

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Once a minor reaches the age at which the custodianship terminates according to the state’s specific Uniform Gifts to Minors Act/Uniform Transfers to Minors Act (UGMA/UTMA) law, the custodian must transfer the fund shares to the sole name of the minor. The custodian must provide the following:

  1. The custodian must provide a completed Instruction to Terminate Custodianship form. The form must be signed by the custodian (with signature guarantee, if applicable) confirming the minor has reached the applicable age of termination.
  2. Any outstanding shares in certificate form must be returned to Franklin Templeton Investor Services, LLC, through a traceable method of delivery (i.e. express, certified or registered mail, etc.).
  3. The former minor (who is to be the sole registered owner of the shares) will need to complete and sign a new Account Application.

 

 

 

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