An account controlled by a custodian rather than the owner of the assets. Custodian accounts are often used for minors or other individuals who are unable or unwilling to handle their own assets. Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott...
The legal owner of the custodial account is the beneficiary. The custodian is just an appointed manager of the account until the beneficiary takes control. Who pays taxes on a custodial account? The beneficiary of the account is the legal owner of the account so they pay the taxes. Any fund...
1.One that has charge of something; a caretaker:the custodian of a minor child's estate; the custodian of an absentee landlord's property. 2.A janitor:worked nights as custodian of a high school. cus·to′di·an·ship′n. American Heritage® Dictionary of the English Language, Fifth Ed...
Custodial person or "custodian" means the person who has primary physical custody of the child(ren). Sample 1Sample 2Sample 3 Based on 12 documents SaveCopy Custodial person means a parent or third-party caretaker Sample 1Sample 2Sample 3 Based on 7 documents SaveCopy Custodial person means a...
For example, with an individual retirement account (IRA), the custodian is the bank, brokerage firm, or other financial services company that holds your account. Similarly, the Depository Trust Company, a subsidiary of the Depository Trust and Clearing Corporation (DTCC), is the custodian of ...
bailee (custodian) n. a person with whom some article is left, usually pursuant to a contract (called a "contract of bailment"), who is responsible for the safe return of the article to the owner when the contract is fulfilled. These can include banks holding bonds, storage companies where...
Define Custodian Cash Account. means the account of the Chargor with the Custodian, details of which are set out in Part A (Custodian Cash Account) of Schedule 1 (Account), (and any renewal or re-designation of such account(s)), in each case together wit
In this kind of agreement, the seller gets cash for the security but holds it in a custodial account for the buyer. This type is even less common than specialized delivery repos because there is a risk that the seller may become insolvent and the borrower may not have access to the collat...
AUniform Transfers to Minors Act (UTMA)account differs from a UGMA account in that it allows for the donation of non-basic assets, such as life insurance and stocks.1 UGMA accounts are managed by a custodian, who is appointed by the donor. The custodian must manage the account for the be...
Current Account current maintenance arrestment Currit tempus contra desides et sui juris contemptores Cursitor baron Cursus curiae est lex curiae Curtesy curtilage Curtis, Benjamin Robbins Cushing, Caleb Cushing, Luther Stearns Cushing, William Custodial Interrogation custodian custody custom Custom of merc...