St. Lawrence Seaway definition, a series of channels, locks, and canals between Montreal and the mouth of Lake Ontario, a distance of 182 miles (293 km), enabling most deep-draft vessels to travel from the Atlantic Ocean, up the St. Lawrence River, to all the Great Lakes ports: developed jointly by the U.S. and Canada. See more.
A uniform transfer to minors account, or UTMA, is a way that grandparents can put money away for their grandchildren. Sometimes called custodial accounts, UTMA accounts generally stay under the control of an adult custodian until the child reaches the age of majority.
The downside of a UTMA account is that itâs no longer your money, even if you named yourself as custodian. The account is owned by your grandson. You may spend money from the custodial account on your grandchild, but you canât take it back for yourselves. If you do so, you are committing a breach of fiduciary duty for which you may be sued, and you could even be criminally prosecuted for theft.