The Uniform Gifts to Minors Act (UGMA) allows money and financial securities to be transferred to minors through a UGMA account and is allowed in all states. UGMA allows the property to be gifted to a minor without establishing a formal trust...
wex definitions
uniform law
Uniform laws are laws written by lawyers from a variety of backgrounds with the hopes that states will adopt them. They are created by the Uniform Law Commission (ULC) in order to address legal issues that need a lot of expertise or need to...
Uniform Premarital Agreement Act
Uniform Premarital Agreement Act is a multistate law enacted to enforce consistency in prenuptial agreements from state to state. Based on the applicable laws of that state, not only does the Act allow the relevant parties to choose a...
Uniform Principal and Interest Act
The Uniform Principal and Interest Act, also known as the Uniform Principal and Income Act, is a uniform statute, adopted by most states, that in its most recent version allows some trustees to make adjustments that were not formerly allowed...
Uniform Probate Code
The Uniform Probate Code (UPC) was prepared by the Uniform Law Commission (ULC) in 1969 and was last amended in 2019. The UPC contains a comprehensive set of standard rules that the ULC has approved and recommended for enactment in all states...
Uniform Prudent Investor Act
The Uniform Prudent Investor Act (UPIA) was prepared by the Uniform Law Commission (ULC) in 1994 and was approved by the American Bar Association in 1995. The UPIA contains a comprehensive set of standard rules that the ULC has approved and...
Uniform Resource Locator (URL)
A Uniform Resource Locator, or URL is the address of a specific location on the web. As explained by the Computer Security Resource Center, a URL is a reference to a web resource that specifies its location on a computer network and a...
Uniform Simultaneous Death Act
Uniform Simultaneous Death Act is a piece of legislation enacted by many states which prevents the need of multiple probate proceedings when two individuals die within 120 hours of one another. When someone passes with or without a will,...
Uniform Transfer-on-Death Securities Registration Act
Uniform Transfer-on-Death Securities Registration Act (UTODSRA) is an act that enables people to designate beneficiaries to inherit their stocks, bonds, bank accounts or other securities without the need for probate. The registration process...
Uniform Transfers to Minors Act
The Uniform Transfers to Minors Act (UTMA) expanded on the Uniform Gifts to Minors Act allowing all kinds of property such as bonds, real estate, and art to be transferred to minors and was adopted by most states. UTMA allows the property to...