Absolutely! You can open a Custodial account¹ for any minor. You invest on behalf of a child in your life, and they can take over when they’re old enough. You can learn more about the process here.

You can also name a beneficiary for your regular Invest account using this form. Please send your completed forms to Support and they’ll add the person as a beneficiary.

DISCLOSURES

¹The adult (or Custodian) who opens the account can manage the money and investments until the minor reaches the “age of majority.” That age is usually 18 or 21, depending on the Custodian’s state. The money in a custodial account is the property of the minor. Money in a custodial account can be used by the parent or legal guardian, but only to do things that benefit the child.