Do not count the asset transferred under the UTMA as the custodian's asset. The custodian cannot legally use any of the funds for their own personal benefit.
If the custodian is also the person who gave the asset, under the UTMA, to the minor child, the gift represents the transfer of an asset. Apply the transfer of asset policy provisions in PM 07-04-19.
NOTE: The asset of a categorically eligible SNAP unit are exempt (see PM 05-07-00).