Gifts Under the Uniform Transfers to Minors Act Are Limited

question 1

True/False

Gifts under the Uniform Transfers to Minors Act are limited for the most part to money or securities, while the Uniform Gifts to Minors Act allows gifts such as real estate.

---

Definitions:

Utopian

Relating to an imagined perfect society where everything is ideal, often used to describe unrealistic or idealized concepts for societal organization.

Self-Interest

Acting in a way that is most personally beneficial, often used in economics to describe behavior in markets.

Insurance Premiums

The amount paid periodically to an insurance company by policyholders for coverage and to keep the policy active.

Central Planning

An economic system where decisions about production, investment, and distribution are made by the government or a central authority.