Using the Uniform Transfer to Minors Act instead of guardianship

Jay Goldenberg sets the scenario in a very readable article in the latest ISBA Trusts & Estates newsletter: "I get a call. A minor is a beneficiary of a life insurance policy. When a parent or guardian of the person sought to collect, they were told 'we can only pay to a guardian of the estate.'” But as Jay points out, there may be a simpler and less expensive solution than guardianship -- the Uniform Transfers to Minors Act. "Sometimes it takes some education and citation, but I have never failed to secure distribution [via the UTMA], at lower cost than establishing a guardianship of the estate, not to mention the simplicity of future administration." Find out how he does it.