Posts tagged The South Carolina Uniform Gifts to Minors Acts.

This blog is intended to highlight certain aspects of the South Carolina Uniform Gift to Minors Act (the "SCUGMA"), which is found in Article 5 of Chapter 5 of Title 63 (the Children's Code) of the South Carolina Code of Laws.

In general, the SCUGMA allows a donor to make a gift of assets, such as securities, to be held in a custodian's name for the benefit of a minor without the legal expense of setting up a trust. Under the SCUGMA, the custodian must deliver or pay over the assets to the minor on his attaining the age of twenty-one (21) years. Notwithstanding this requirement, the SCUGMA also ...

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