Banking
Custodial account
An account held by a custodian for a minor or another beneficiary under a defined legal structure.A plain-English overview of a record that can involve changing control over time.
Things to review
The account's ownership, control, permitted use, and age-related rules depend on the actual account and applicable state law. Keep this as an organizational reference, not a legal conclusion.
Key points
- Record the custodian and beneficiary references.
- State-specific rules may apply.