Which of the following UTMA accounts can be validly opened?

The valid option among the choices provided is the one where Barbara Collins is named as custodian for Ellen Collins. The Uniform Transfers to Minors Act (UTMA) allows for the establishment of custodial accounts where one adult acts as a custodian on behalf of a minor. The custodian manages the account until the minor reaches the age of majority, which is typically 18 or 21 years old depending on the state.

In this instance, it follows the UTMA guidelines, allowing a single adult—Barbara Collins—to act as the custodian for a single minor, Ellen Collins. This setup is consistent with the regulations governing the establishment of UTMA accounts, as it appropriately designates someone responsible for managing the minor's assets.

The other options do not conform to the rules governing UTMA accounts. For instance, having two custodians (Alan and Barbara Collins) could complicate management or accountability. Additionally, listing minors (Dan and Frank Collins) as custodians is inappropriate because custodians must be adults. It is crucial under UTMA regulations that custodianship is designated to responsible adults managing the funds for minors until they reach the age of consent to handle their estate directly.