Should we combine the UTMA and UGMA tags?

Question

I would like to propose that we combine the utma and ugma tags into one tag, perhaps called ugma-utma.

UTMA (Uniform Transfer to Minors Act) and UGMA (Uniform Gift to Minors Act) accounts are very similar to each other. They have the same uses, and minor (but very real) differences that vary from state to state. I think that most questions about them will apply to both types of accounts and that it would be useful to group the questions about them together in one tag.

Currently, there are two questions tagged with utma only, one question tagged with ugma only, and two questions that are tagged with both tags.

The one question tagged ugma actually discusses both types of accounts. I think combining the tags into one tag which will have 5 questions on it will help people find related questions and will avoid confusion on tagging in the future. The body of the question will differentiate if one particular account needs to be discussed.

Answer 1

Let's combine the tags.

UTMA and UGMA are almost two different names for the same thing. Each state has one or the other, and the names are often used interchangeably. (The differences are mainly in what type of assets are allowed in them.)

UGMA is the older law, but when UTMA, the more flexible law, came into effect, almost all the states (48 of them) adopted the UTMA and repealed the UGMA. UGMA accounts in those states that were in place before the change were grandfathered in. (Source)

Most questions about them will apply to both.

Because UTMA is more common, I recommend that we name the tag utma-ugma. We can make both of the existing tags tag synonyms of the new tag.