What is a custodial account?
A custodial account allows a parent (or grandparent, other family member, or friend) to open a savings/investing account for a minor*.
Until the minor reaches the “age of majority” (usually 18 or 21 depending on the State), only the adult or ‘Custodian’ who opened the account can manage the funds. Think of the age of majority as the age the minor reaches adulthood under State Law. Importantly, money deposited into a custodial account becomes the property of the minor. The assets deposited into a custodial account cannot be taken back or given to someone else.
These funds can only be used for the benefit of the minor. Examples include things like education, child care, and other expenses.
*The age of a minor varies by state, in some states it is everyone under 18, other states consider individuals as minors until they are 21.
Q. Will Stash tell me when to sell my stock shares?
You will be able to sell your shares of stock in the same way that you sell shares of an ETF today. For guidance on how to judge the performance of a company, we recommend that you consult all available resources on learn.stashinvest.com.
Q. What happens to my shares if a stock splits?
A stock split is similar to taking a $100 bill and splitting it into two $50 bills (or five $20 bills). The number of bills you hold increases, but the overall value of your money remains the same. If a stock that you own splits, the number of shares of stock on the market (or…
Q. Do I have voting rights?
Yes, you may have voting rights for some of the companies you invest in on Stash! You need to own at least one whole share of the stock though. Since we trade fractional shares for our customers, some of our users can hold less than one full share. As a shareholder, your voting power is…
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