Best Custodial Account Options, Benefits & Setup Guide
Table of Contents Key Takeaways Custodial accounts are managed by an adult for the benefit of a minor, offering investment opportunities without contribution limits. There are two main types of custodial accounts: UGMA (Uniform Gifts to Minors Act) and UTMA (Uniform Transfers to Minors Act). Custodial accounts offer tax advantages, financial education opportunities for minors, … Read more