Custodial Account vs. Guardian Account | Finance - Zacks - custodial accounts adult

Category

Custodial account - Wikipedia custodial accounts adult


The term custodial account generally refers to a savings account at a financial institution, mutual fund company, or brokerage firm that an adult.

Financial vehicles such as a UTMA/UGMA account or a Coverdell Education Savings Account can allow an adult to invest for a child's benefit, and they often have tax advantages. A custodial account is any type of financial account set up by one person for the benefit of another.

Read reviews and choose the best custodial bank account from top companies including Charles Schwab, Vanguard, Fidelity and more.

A custodial account is a financial account set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or.