A will provides that any share of the decedent’s estate distributable to a descendent who has not reached the age of 21 years may be distributed to a custodian for the descendant under any Uniform Transfers to Minors Act (UTMA). Can we open an Illinois UTMA account for a 19-year-old?

Yes, we believe that you may open an Illinois UTMA account for a 19-year-old when the account has been created by a fiduciary acting under the authority of a will, since the Illinois UTMA provides that the custodianship will not terminate until the minor turns 21.

Section 6 of the Illinois UTMA covers transfers made by a fiduciary acting under a will, trust, or other governing instrument that permits or requires the fiduciary to transfer property to the minor. Custodianships created under Section 6 of the Illinois UTMA terminate when the minor turns 21, and for purposes of the Act, a minor is defined as “an individual who has not attained the age of 21 years.”

Custodianships created under other sections of the Illinois UTMA may terminate when the minor attains the age majority in Illinois, which is 18. However, because this appears to be a custodianship created by a transfer made by a fiduciary acting under a will, we do not believe that the custodianship will terminate until the minor turns 21.

For resources related to our guidance, please see:

Illinois Uniform Transfers to Minors Act, 760 ILCS 20/2(21)(a) (“The custodian shall transfer in an appropriate manner the custodial property (to the extent that it has not been used pursuant to this Act) to the minor or to the minor’s estate upon the earlier of:

(1) the minor’s attainment of 21 years of age with respect to custodial property transferred under Section 5 or 6;

(2) the minor’s attainment of majority under the laws of this State other than this Act with respect to custodial property transferred under Section 7 or 8; or

(3) the minor’s death.”)

Illinois Uniform Transfers to Minors Act, 760 ILCS 20/2(12) (“‘Minor’ means an individual who has not attained the age of 21 years.”)

Illinois Uniform Transfers to Minors Act, 760 ILCS 20/6(a) (“A representative, trustee or other obligor under a governing instrument may make an irrevocable transfer pursuant to Section 10 to a custodian for the benefit of a minor as authorized in the governing will, trust or other governing instrument. The authorization will be presumed unless the transfer is expressly prohibited by or inconsistent with the provisions of the will, trust or governing instrument.”)

Thornhill v. Midwest Physician Ctr., 337 Ill. App. 3d 1034, 1052 (2003) (“In Illinois the age of majority is 18 years old.”)

Illinois Probate Act of 1975, 755 ILCS 5/11-1 (“‘Minor’ means a person who has not attained the age of 18 years. A person who has attained the age of 18 years is of legal age for all purposes except as otherwise provided in the Illinois Uniform Transfers to Minors Act.”)