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The Uniform Transfers to Minors Act (UTMA) allows a minor to receive gifts, such as money, patents, royalties, real estate and fine art, without the aid of a guardian or trustee. Under the UTMA, the gift giver or an appointed custodian manages the minor's account until the latter is of age. The UTMA also shields the minor from tax consequences on the gifts, up to a specified value. The Act allows the donor to name a custodian who has the fiduciary duty to manage and invest the property on behalf of the minor until the minor becomes of legal age. The property belongs to the minor from the time the property is gifted. It is import to note that once you have transferred assets into an UTMA account, you are NOT permitted to take them back. Once the assets are transferred to the minor,...
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- Estates, Trusts & Probate
- Elder Law
- Corporate/Business; Commercial Law
- Corporate General Counsel Services
- Real Estate
- Tax Practice
- Charitable, Not-For-Profit, and Religious Institutions
- Intellectual Property
- Corporate and Business Debt Restructuring
Sentiment Analysis
Five years later, she and Ella serviced us when we were at the same time selling the house and buying an apartment at a difficult time during the pandemic.
Amazing working with them, Definitely satisfied me.
I am immensely grateful to firm of Beress & Zalkind PLLC and especially Viktoria Beress for resolving all our legal issues and recommend this firm to anyone, who needs help in matters of Trusts and Estates.
They didn’t mind answering all my questions and phone calls I like the fact that they never got annoyed of me and was very honest about everything regarding my case, I really appreciate everyone at Beress & Zalkind PLLC
Thank you Ella Zalkind and Victoria Beress for making me feel confident that I’m in good hands🙏
Outstanding service!!!
Worked with Beress & Zalkind on several deals, very reliable and knowledgeable, I would highly recommend them.
Throughout the entire process they expertly guided our case and offered high touch personal services.
You want her on your team representing you because she makes sure things are done and are done in your favor.
I was very pleased with the services I received from Victoria for my father-in-law regarding setting up a trust.
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