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Custodial Account Deposit - Ohio
Custodial Account Deposit is a legal document that was released by the Office of the Ohio Treasurer - a government authority operating within Ohio.
FAQ
Q: What is a custodial account deposit?A: A custodial account deposit is a type of account where an adult manages and controls assets on behalf of a minor.
Q: Who can open a custodial account deposit in Ohio?A: In Ohio, custodial accounts can be opened by parents or legal guardians on behalf of minors.
Q: What can be deposited into a custodial account deposit?A: Money, securities, and other assets can be deposited into a custodial account deposit.
Q: Are there any restrictions on how the funds in a custodial account deposit can be used?A: Yes, the funds in a custodial account deposit must be used for the minor's benefit and cannot be spent on the custodian's own expenses.
Q: When can the minor access the funds in a custodial account deposit?A: The minor can access the funds in a custodial account deposit when they reach the age of majority, which is usually 18 or 21 years old, depending on the state.
Q: What happens to the funds in a custodial account deposit if the minor passes away?A: If the minor passes away, the funds in a custodial account deposit typically become part of the minor's estate and are distributed according to their will or state laws of intestacy.
Form Details:
- The latest edition currently provided by the Office of the Ohio Treasurer;
- Ready to use and print;
- Easy to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of the form by clicking the link below or browse more documents and templates provided by the Office of the Ohio Treasurer.
