-
Q. What type of custodial account does Stash offer?
Stash offers Custodial Accounts that are called UTMAs (Uniform Transfer to Minors Act) and UGMAs (Uniform Gift to Minors Act) as allowed by state law. How is the account type determined? The account type (UTMA or UGMA) is decided by which state the person opening the account (AKA the Custodian) resides in.…
-
Q. 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.…
Learn Weekly
-
Q. Are Custodial accounts protected from creditors?
In the event of a bank failure or takeover, custodial accounts are FDIC insured. This means that if anything happens to Stash, our custodian Apex, or the wider banking system, your custodial account is safe from creditors. A custodial account is a kind of irrevocable trust.…
-
Q. Who is eligible for a custodial account?
Any minor under the age of majority (18 or 21 depending on the state) can be a beneficiary of a Stash Custodial Account. Minors who hold a green card or visa and are not U.S. citizens can receive money from a Custodial Account.…
-
Q. What is the age of majority?
The age of majority is when a person legally becomes an adult. This can vary by state, but is usually either 18 or 21. This is the age when funds in a custodial account¹ can be turned over to the minor.…
Didn’t find your question?
Tell us what you’re looking for, and we’ll search for resources that could help.
Ask your question
