What is a legal hold? Here’s everything you need to know about legal hold best practices and the management software.
Although anyone may contribute to a custodial account, control of the account is managed by the custodian. Once the minor beneficiary reaches the age of majority (as determined by the state), the custodian can transfer the funds in the account over the funds to the minor. Types of Custodial ...
Provide notice:Legal hold notices are commonly issued when there is reasonable anticipation of litigation. The notice should outline the custodian’s obligations, identify the issues, specify the related entities and date range, include instructions for preservation, and provide contact information to add...
What Is the EDRM? Exploring the 9 Phases of the Electronic Discovery Reference Model If you’ve ever had to handle electronically stored information (ESI) in preparation for legal proceedings, you’ve likely heard of the Electronic Discovery Reference Model (EDRM). ...
Once the minor reaches the legal age of adulthood in their state, control of the account is officially transferred to the named beneficiary from the custodian. At that point, the beneficiary can claim full control and use of the funds. Should theminordie before the age of majority, the accou...
Looking for a tax-smart way to save for your future? Find out what an IRA is, what it offers, and how the three main types differ
While the child is a minor, the custodian can buy or sell investments as they see fit. Advantages and disadvantages of a custodial account Like any financial decision, it's important to weigh the advantages against any potential drawbacks before opening an account. ...
I had a custodial account for my daughter. Her mother was listed on the account as well, but I was listed as the custodian of the account. She closed the account and withdrew all the money without my knowledge or consent. Is this legal?
If you received a distribution of more than $10 from annuities, profit-sharing plans, retirement plans, or pensions, you should receive a Form 1099-R. Form 1099-R can also include other types of benefits, such as survivor income benefit plans. If you rec
In general, the account custodian or custodians contribute to the account and determine how the money is invested or managed. Typically, custodians are parents, but they could be a guardian, relative or other adult. Some accounts, such as Coverdell education savings accounts (ESAs) are designed...