1 Florida Family Law § 21.21

Summary

• [1] Overview of the Act

  The Florida Uniform Transfers to Minors Act1 provides a method for transferring property to a minor (an individual under eighteen years of age).2 Under the Act, parents or any other persons may transfer property to a minor by making an irrevocable gift to a custodian for the benefit of the minor, or by giving the custodian an irrevocable power of appointment in favor of the minor.3

  The Florida Uniform Transfers to Minors Act also allows a personal representative or trustee to make an irrevocable transfer to a custodian for the benefit of a minor as authorized in a governing will or trust.4 A “personal representative” is an executor, an administrator, a successor personal representative, a special administrator of a decedent’s estate, or any other person legally authorized to perform substantially the same functions.5 “Custodial property” ...