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.
Key benefits of an UGMA/UTMA. 1  You can contribute as much as you want, but amounts above $14,000 per year ($28,000 for a married couple filing jointly) will incur federal gift tax.  Anyone can open or contribute on behalf of a child.