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A custodial account is a popular way for parents and guardians to invest for their children’s future. Accounts are easy to set up and manage, and the adult custodian can choose from a wide range ...
Saving for your child's future, and in turn teaching your child about investing, can be among the biggest long-term concerns for any parent. One way to do both is with a custodial brokerage ...
UGMA/UTMA accounts: UGMA and UTMA accounts are custodial accounts that allow parents, grandparents and others to transfer assets to a minor child. The assets are managed for the child until he or ...
A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary. [1]
Under the UGMA or UTMA, the ownership of the funds works like it does with any other trust and the donor must appoint a custodian (the trustee) to look after the account for the benefit of the beneficiary. [citation needed] Until 1986, a UGMA or UTMA account allowed the assets to be taxed at the minor's income tax bracket. Tax law changes in ...
Custodial accounts allow you to manage finances for a child or other minor. Usually these types of accounts are set up by a parent, relative or guardian on behalf of a family member, although this ...
Child development accounts have been established in a number of other countries, [25] where they are primarily viewed as anti-poverty policy, [26] rather than investments in education. Canada, Singapore, and the United Kingdom have instituted national CSA policies, with eligibility criteria, matches, and allowable uses consistent with the ...
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