What happens when the beneficiary reaches age of majority?
The age of majority generally varies between 18 and 21 years of age and is determined by the state law of the custodian’s state of residence. Once a child reaches the age of majority, the funds are directly available to them to use at their own discretion.
The custodian will no longer have access to or control over these funds.
When the funds transfer to the minor, they can open a Stash Invest account to continue managing the investments themself, or withdraw the funds.
Related questions View all Custodial
-
Q. Why Am I Still Receiving Statements?
We at Stash are legally required to send our clients statements for their account(s) in any month in which there was any activity or funds in the account. If you believe you should not have received a statement, log back into your account to see if your accounts are fully closed and… If you are fully closed with no funds in any of your account(s): Since your account is now fully closed and unfunded this would be your final statement.…
-
Q. Trying to Link your Stash with TD Bank?
As of April 25th, 2022, at 12:01a.m. ET, TD Bank implemented a change that requires all institutions, including Stash, to re-link once every 90 days if you linked your account via the Instant Link option using Plaid. What this means for Stash customers who are linked to a TD Bank account: This will not impact any deposits you make from your account,…
-
Q. Why did you sell part of my investments to cover my monthly subscription fee?
The way we initially attempt to charge the fee differs. We’ll try to pull from your Portfolio cash, linked debit/credit card, or Stash Banking1 balance first. If that doesn’t work, then we’ll sell a portion of your holdings in your Personal Invest Portfolio to cover the fee.…
Didn’t find your question?
Tell us what you’re looking for, and we’ll search for resources that could help.
Ask your question
