Q. When can you withdraw money from a custodial account?
As the custodian, you can withdraw money from a custodial account if you need to use it to pay for something that will benefit the minor. You can’t take the money back yourself, or give it to someone else. Some examples of eligible expenses include college or high school tuition,…
Q. What if I need more custodial accounts than what is included in the Stash+ subscription?
With Stash+, you automatically get access to two Custodial accounts. At this time, you are unable to add more than two Custodial accounts. Still have questions about custodial accounts? We’ve got you covered. …
Q. What are my options for investing the money in my custodial account?
You can invest in the same stocks and ETFs in your custodial account as you can in your Invest account. Once you transfer money into your custodial account, you are free to invest the money in the custodial account however you’d like.…
Q. How many custodial accounts can a minor have?
There’s no limit to the amount of custodial accounts¹ you can open for minors. Multiple adults can also open custodial accounts for the same minor. With Stash, custodial accounts are only available on the Stash+ plan, which includes 2 custodial accounts.…
Q. Can Custodial accounts be garnished?
In most cases, yes. Very few exemptions to wage garnishment exist, although laws can vary from state to state. Please refer to your own state’s law on this (or consult a legal professional). What does ‘garnishment’ mean? Garnishment is a way for creditors to take money from a person’s wages or bank account as a way of repaying debts owed to them.…
Q. Can I withdraw money from my Stash Custodial account whenever I want?
A custodial account allows you to make a financial gift to a minor—with “gift” being the keyword here. When you deposit money into a custodial account, it immediately becomes the minor’s property. Custodial accounts, also known as UGMA or UTMA accounts,…
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