If the account was restricted because of a delay in transferring control, any restrictions would be lifted once ownership was transferred. At Fidelity, the custodian must transfer the account to the child within an allotted period of time once the child reaches a certain age (between 18 and 25...
Before you set up a custodial account for a minor, consider whether this is the best choice. These accounts are well suited to relatively small dollar amounts because they’re quick, cheap and simple. If you’re thinking of transferring many thousands of dollars to a child, you should stron...
(33) FDIC receiverships are generally viewed as efficient and speedy, with the FDIC promptly returning custodied assets to the client or transferring them to the client's designated successor custodian. (34) Indeed, the FDIC has stated that it perfo...
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