en     ru     jp
 
 
private banking
private banking
private banking
private banking
private banking
private banking
private banking
     
 
Home
      
Knowledge Base
      
Financial Glossary
      
Custodial account
       
 
Back

Custodial account

 Search definitions     
  Search  

Custodial account
An account which is created for the benefit of a minor, usually at a bank, Mutual Fund, or brokerage, with an adult as the Custodian.
    
Custodial account is a financial account set up for a minor, but administered by a responsible adult, known as a Custodian, because the minor is under the legal age of majority. The Custodian is often the minor's parent. A custodial account can be everything from a bank account to a Trust fund. This type of account usually comes with a Coverdell ESA Form a Tax advantaged contract. It deals with successor rights and other contract conditions depending on who issues the form.
    
In another form, a Custodial Account is an account owned by an individual or Institution, managed by a named party for purposes of rapid Distribution of funds in that account. This is commonly used for petty Cash or for transactions that have very limited and clearly defined payees and transaction types.
Posted by  LISA Life Insurance Settlement Association
 
  Back  
  Print  
  Email  

 

private banking
Get Adobe Flash Player to view the media
FlashPlayer required to view the media
private banking
private banking
private banking
private banking
private banking

 
Home News Library Newsletters Event Calendar Advertise About Contact FAQ
Privacy Policy     Terms of Service
 

©