Opening a Custodial Account
Looking to invest in the future of the child or children in your life? Stash offers a type of investment account geared specifically towards children under age 18. This is called a Custodial account. Any minor under age 18 or 21 (depending on your state; more information here) is eligible for a Custodial account.
Minors who hold a green card or visa and are not U.S. citizens can receive money from a Custodial Account.
The Stash+ plan includes two Custodial accounts; however, minors can have more than two Custodial portfolios opened in their name. Multiple adults can contribute to the same Custodial account as well. You do not have to be related to the minor to open a Custodial account for them.
You can open a Custodial portfolio for a minor if you:
- Are 18 years of age or older
- Have an open Personal Brokerage account
- Make a minimum deposit of $1 to the Custodial account
“Kids Portfolio” is a custodial UGMA / UTMA account. Money in a custodial account is the property of the minor. This type of account is a Non-Discretionary Managed account.
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