What best defines the role of a custodian under the Uniform Gifts to Minors Act?

The role of a custodian under the Uniform Gifts to Minors Act (UGMA) is specifically defined as an individual who is authorized to manage gifts made to minors. This encompasses the responsibilities to hold, invest, and manage the assets for the benefit of the minor until they reach the age of majority, at which point the assets are transferred to them.

The custodian serves to safeguard and manage the gifts—often financial assets, such as stocks or cash—until the minor is old enough to manage them independently. This role does not extend to making broad investment decisions like those related to an adult's entire financial portfolio; rather, it focuses on the specific gifts that have been entrusted to the custodian under the UGMA framework.

In addition, although custodians do have a level of responsibility for managing those gifts, they do not take on the role of a guardian for all assets or responsibilities relating to the minor's life, which is why this choice accurately captures the scope of the custodian’s duties.