custodial account

custodial account definition - business

custodial account

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.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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