Custodial
Custodial
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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. What if I need more custodial accounts than what is included in the Stash+ subscription?
Looking to set the kids in your life up for a better future? The Stash+ plan includes two Custodial portfolios that allow you to save and invest for them. Learn more about Custodial portfolios here. Note: The Stash Growth plan does not include any Custodial portfolios. …
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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. Are Custodial accounts protected from creditors and garnishment?
Custodial accounts may be subject to garnishment from creditors looking to collect a debt owed. For creditors looking to collect on a debt owed by the custodian of the account, the Custodial account does not offer any special protection. As long as the account is under your name,…
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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. Check out this article from Stash Learn for more information on Custodial accounts. …
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