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A custodial account is an account that parents can set up and manage on their minor child’s behalf, and the child is able to take over the account upon becoming a legal adult.
Here’s how custodial accounts work.
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]
Continue reading → The post Best Custodial Accounts in 2021 appeared first on SmartAsset Blog. Usually these types of accounts are set up by a parent, relative or guardian on behalf of a family ...
As more patients with higher deductibles seek out care options, the reduced cost of retail settings is a viable option for routine care. For example, according to one analysis, the typical cost of diagnosing an earache was $59 at a retail or walk-in provider, $95 in doctor's office, $135 at urgent care, $184 in an emergency room. [5] [Dead link]
A walk-in clinic in Toronto, Canada. A walk-in clinic (also known as a walk-in centre) is a medical facility that accepts patients on a walk-in basis and with no appointment required. A number of healthcare service providers fall under the walk-in clinic umbrella including urgent care centers, retail clinics and even many free clinics or ...
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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 ...