Under the Uniform Transfers to Minors Act (UTMA), the custodian manages the account until the minor reaches the age of majority, at which point the assets are transferred to the minor. The custodian cannot take the money away from the minor for personal use; their role is to manage the funds in the best interest of the minor. However, the custodian can make withdrawals for the minor's benefit, such as for education or other necessary expenses. Once the minor reaches the designated age, they gain full control over the funds.
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