Child Accounts
Learn how to set up child accounts in estate planning. Discover options for minors, UTMA accounts, and trust structures to protect your children's inheritance.
How do I set up accounts for my minor children in my estate plan?
You have several options for managing assets for minor children through your estate plan. You can establish custodial accounts under the Uniform Transfers to Minors Act (UTMA), create specific provisions in your trust for children's accounts, or designate a trustee to manage funds until they reach adulthood. Many parents include language in their revocable living trust that creates separate sub-trusts for each child, allowing the trustee to distribute funds for education, health, and support needs. The key is ensuring someone you trust can access and manage these accounts if something happens to you.
