Custodial Accounts: What They Are, How They Work, and What They Do
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A custodial account is an investment account that an adult opens and manages on behalf of a minor. The money belongs to the minor from the first deposit — you manage it, but you don’t own it. There are two main types: UGMA (for financial assets like stocks and bonds) and UTMA (which also includes […] The post Custodial Accounts: What They Are, How They Work, and What They Do appeared first on Finhabits .
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