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A Custodial account allows a parent, guardian, or other family members/friends to open an investing account for a minor. The adult (or custodian) who opens the account manages the investments until the minor reaches the age of majority. That age is usually 18 or 21,…
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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