Uniform Transfer to Minors Act (UTMA) - Law enacted in many states
that lets you leave assets to a minor by appointing a Custodian. In most
states, the minor receives the assets at legal age.
Unfunded - Your Living Trust is unfunded if you have not transferred assets
into it.
Will - A written document with instructions for disposing of assets after
death. A Will can only be enforced through the probate court.
ESTATE PLANNING
Glossary of Terms