A custodial account (also known as an UGMA or UTMA account, based on the Uniform Gifts/Transfers to Minors Acts) is a brokerage account that allows you to make a financial gift to a minor and help teach them about investing. It is set up and managed by an adult, and turned over to the child when he or she reaches the age of majority.
No annual account fees
Trade stocks, bonds, options, exchange traded funds, mutual funds and more
Access to knowledgeable representatives
Free independent research
All assets are help in the child’s name.
No gift tax incurred for contributions up to $14,000 ($28,000 per couple) for each beneficiary in a single year
A custodial account is an irrevocable gift and must be turned over to the child when he or she reaches the age of majority, typically 18 or 21, depending on the state.
To find out more about opening a custodial account, either call our office at (855) 846-ACAP, fill out our brief contact form or email us at [email protected].