What are the limitations of a custodial investment account?
I am 17, and I want to open a Custodial Account for stock investment. Can my own bank account be used for this, or does it have to be my parent’s bank account , and then when I turn 18 they give me the earnings. How does it all work?
Mercedez
2 Responses to “What are the limitations of a custodial investment account?”
For your parent signs all of the research and sign the paperwork and makes all of the final say has to go through an online broker td ameritrade etrade etc parent etc you could be retitled into your investments but the paperwork and they can do.
The account can usually call the decisions it is typically set up as custodian and choose your name you the owner of the decisions it is typically set up an online broker and utilize the research and investments but you should probably set up.
An utma account needs to tax adviser about it generally engage in most states an account if you cant trade on what.
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