Investing in a child’s name: How mutual fund accounts for minors work, rules to know, and tax impact explained
Investing in a child’s name: How mutual fund accounts for minors work, rules to know, and tax impact explained
Parents can invest in mutual funds for minors, with the child as the sole holder, managed by a guardian. Upon turning 18, control fully transfers to the child. While beneficial for disciplined long-term savings, parents lose control post-majority. Tax implications differ before and after the child becomes an adult.
Parents can invest in mutual funds for minors, with the child as the sole holder, managed by a guardian. Upon turning 18, control fully transfers to the child. While beneficial for disciplined long-term savings, parents lose control post-majority. Tax implications differ before and after the child becomes an adult.
Parents can invest in mutual funds for minors, with the child as the sole holder, managed by a guardian. Upon turning 18, control fully transfers to the child. While beneficial for disciplined long-term savings, parents lose control post-majority. Tax implications differ before and after the child becomes an adult. 
