My wife and I are separated pending divorce. We’ve got about $20k set aside in cash funds for our child. We want to put it in some kind of fund to protect the money from us. I’m looking at a Schwab automated investing custodial fund (mainly etfs). Is this a good idea? We don’t want a 529 as we don’t want it limited to education expenses. Is there a way to put both names am(my current wife and I) as custodians? Something I’m missing?
Custodial account for kid + pending divorce
byu/BloodstainedBearRug ininvesting
Posted by BloodstainedBearRug
1 Comment
you can use a utma. Not sure about joint custodianship. if you expect a large amount and don’t trust your child at 18 or 21, I would go for a trust.
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