Search results
Results from the WOW.Com Content Network
A custodial account is an investment account for children and teens offered by brokers. Adults, usually parents, make contributions to the account on behalf of the child until the child reaches ...
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 ...
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 ...
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]
The Uniform Gifts to Minors Act (UGMA) is an act in some states of the United States that allows assets such as securities, where the donor has given up all possession and control, to be held in the custodian's name for the benefit of the minor without an attorney needing to set up a special trust fund. This allows a minor in the United States ...
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 ...
Here’s how custodial accounts work. For premium support please call: 800-290-4726 more ways to reach us
The Uniform Transfers To Minors Act (UTMA) is a uniform act drafted and recommended by the National Conference of Commissioners on Uniform State Laws in 1986, and subsequently enacted by all U.S. States, which provides a mechanism under which gifts can be made to a minor without requiring the presence of an appointed guardian for the minor, and which satisfies the Internal Revenue Service ...