Beginner's Guide to UGMA and UTMA Custodial Accounts

Eligibility:

Any adult can set up a custodial account for any child under age 18.

Contribution Rules:

There are no contribution limits. However, someone setting aside money in one of these accounts needs to be aware of how larger gifts affect their annual gift tax and lifetime estate tax exclusions.

Contribution Deadline:

There is no contribution deadline for custodial accounts.