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Q. Withdrawing from your Custodial Portfolio
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,…
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Q. Do funds in the custodial account affect eligibility for financial aid of the beneficiary?
Yes. A Custodial account may impact an application for college financial aid. If the student owns the account, it counts toward their own net worth. If their legal parent(s) own the account, it counts toward the net worth of the parent(s). …
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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.…
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Q. Age of majority
The age of majority is when a minor becomes an adult. The age varies by state, but is usually either 18 or 21. After a minor reaches the age of majority, the funds in their custodial account¹ are theirs to use at their own discretion.…
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