How do I create a free UTMA account?
UTMA accounts allow adults to transfer wealth to minors with possession at age 18 or 21.
UTMA (Uniform Transfers to Minors Act), available in 48 US states, is a provision whereby an adult can transfer wealth to minors. In most states, the minor comes into possession at age 21. In some states, at age 18.
With GBI Direct, UTMA accounts are free and easy to set up within a few minutes, and you can usually start buying within 2 business days.
As custodian, you may buy on their behalf but cannot take possession of the metals.