Definition of "Custodial account"

Roger A. Sturgell real estate agent
Roger A. Sturgell, Real Estate Agent Connect Realty

Account established to manage the assets of a minor. This account is under the auspices of a custodian (either an individual or an institution). The gift tax exclusion would apply on any annual gifts to a minor.

Have a question or comment?
We're here to help.

*** Your email address will remain confidential.


Popular Insurance Terms

Popular Insurance Questions