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Who can be a UTMA custodian?

Question: 
Can a grandparent be a custodian on a UTMA account, and is there a regulation listing who can be an authorized signer on such accounts?
Answer: 

Yes, any adult other than the person transferring property to the custodian for the benefit of the minor, or a trust company, may serve as custodian. That’s set out within the UTMA of each state. No one other than the custodian may be a signer on the account.
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First published on 01/26/2020

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