A guardian is the legal entity appointed by the court to manage property for a minor. A guardian is sometimes referred to as the custodian of a child's estate.
A custodian is also a term used by the Uniform Transfers to Minors Act (UTMA) and Uniform Gifts to Minors Act (UGMA) for the person named to manage property left or given to a child under the terms of either of those Acts. The custodian manages the property until the child reaches the age specified by state law -- 21, in most states. Then the child receives the property outright, and the custodian has no further role in its management. The Acts have been adopted by some states and allows an arrangement by which a donor can designate a custodian for a minor for managing gifts under a certain dollar amount ($13,000).
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