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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 ...
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 ...
An alternative to a custodial account is a savings account that’s designed for children under age 18, and there is joint ownership between the parent and child. The best savings accounts for ...
Custodial accounts come in a number of forms, one being an account set up for a minor, since the minor is under the legal age of majority. The custodian is often the minor's parent. In the U.S., this type of account is often structured as a Coverdell ESA, allowing for tax-advantaged
A Coverdell education savings account is a custodial account designed ... If you exceed the $2,000 annual contribution limit or put money in the account after your child reaches 18 years old ...
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 ...
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Parents have the opportunity to build funds for their child’s education through savings vehicles like a 529 plan or a custodial account. Both of these options allow adults to store away money ...
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277 W. Nationwide Blvd, Columbus, OH · Directions · (614) 227-5725