Custodial account
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 custodian, who has a fiduciary obligation to the beneficiary. In one form, a custodial account is an account set up for a minor, because 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 treatment of educational expenses.
Wikipage redirect
primaryTopic
Custodial account
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 custodian, who has a fiduciary obligation to the beneficiary. In one form, a custodial account is an account set up for a minor, because 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 treatment of educational expenses.
has abstract
A custodial account is a finan ...... ient for the client's benefit.
@en
Wikipage page ID
Wikipage revision ID
609,634,141
subject
hypernym
type
comment
A custodial account is a finan ...... tment of educational expenses.
@en
label
Custodial account
@en