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Master Terms of myRA Custodial Account TABLE OF CONTENTS 1. GENERAL ..........................................................................................................................1 1.1.

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A custodial agreement is an arrangement wherein one holds an asset or property on behalf of the actual owner (beneficial owner). Such agreements are generally entered into by state agencies, or companies to administer various benefit programs.

What is a custodial Roth IRA? A custodial Roth IRA is a tax-advantaged retirement account that is owned by a minor, but controlled (and funded) by an adult until the minor reaches legal adulthood. A Roth IRA isn't typically considered a savings vehicle for kids, but it should be.

Master Custodian means the Board's designated custodian bank, at which the Board shall establish a Sub-account in Manager's name for transactions involving the assets allocated to Manager by the Board for investment and management.

Once the minor reaches the legal age of adulthood in their state, control of the account officially transfers from the custodian to the named beneficiary, at which point they claim full control and use of the funds.

A custodial account is generally created by a parent or grandparent for the benefit of a minor child or grandchild. When you put money into a custodial account, you make a gift to the minor beneficiary of the account, even though the minor does not control the account.

No. Money and assets deposited into a custodial account immediately and irrevocably become the property of the child. In other words, you can't take the assets back or give the assets to someone else.

Custody assets include designated investments, and any other assets that the firm holds or may hold in the same portfolio as a designated investment held for or on behalf of a client.

A custodial agreement is a legal contract between the owner of assets or property and a nominee that agrees to hold the assets or property on behalf of the owner. Companies usually enter into custodial agreements to administer benefits to their employees like 401(k) plans or health savings accounts.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232