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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. 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. How many custodial accounts can a minor have?
With Stash, Custodial accounts are only available on the Stash+ plan, which includes two Custodial accounts. However, multiple adults can open Custodial accounts for the same minor. For more information on Custodial accounts, check out this article on Stash Learn. …
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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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Q. 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;…
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