Introduction to Stash Custodial
Q. What is a custodial account?
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 can manage the money and investments until the minor reaches the “age of majority.” That age is usually 18 or 21,…
Q. Can I open a Stash Invest account for my child?
Absolutely! You can open a Custodial account¹ for any minor. You invest on behalf of a child in your life, and they can take over when they’re old enough. You can learn more about the process here. You can also name a beneficiary for your regular Invest account using this form.…
Q. What is the minimum deposit to open a custodial account?
If you’ve got a dollar, you can open a custodial account. The minimum deposit to open an account is only $1. Want to learn more about investing in your custodial account? We’ve got you covered. If you’d like to learn more about custodial accounts,…
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. What type of custodial account does Stash offer?
Stash offers Custodial Accounts that are called UTMAs (Uniform Transfer to Minors Act) and UGMAs (Uniform Gift to Minors Act) as allowed by state law. How is the account type determined? The account type (UTMA or UGMA) is decided by which state the person opening the account (AKA the Custodian) resides in.…
Q. Are Custodial accounts protected from creditors?
In the event of a bank failure or takeover, custodial accounts are FDIC insured. This means that if anything happens to Stash, our custodian Apex, or the wider banking system, your custodial account is safe from creditors. A custodial account is a kind of irrevocable trust.…
Q. What happens when the beneficiary reaches age of majority?
The age of majority generally varies between 18 and 21 years of age and is determined by the state law of the custodian’s state of residence. Once a child reaches the age of majority, the funds are directly available to them to use at their own discretion.…
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