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.
One of the more traditional methods is to open a custodial account, which children can access once they become an adult, but this doesnât place any educational criteria on how money is spent. 1  This is not an education-only savings account and your kids may use the money you invest however they like. Another option is to utilize an UGMA or UTMA account. What Are UGMA and UTMA Custodial Accounts? UGMA and UTMA accounts are considered the granddaddy of college savings accounts. The UGMA (Uniform Gift to Minorâs Act) and UTMA (Uniform Transfer to Minorâs Act) are nothing more than custodial accounts, which are used to hold and protect assets for minors until they reach the age of majority in their state.