Custodian
A person or entity that holds and safeguards assets on behalf of another entity.
More Details
A custodian is a person or entity that holds and manages financial assets on behalf of another person or entity. Custodians are typically responsible for the safekeeping of these assets, as well as the execution of trades and the settlement of transactions.
Example
If you open a youth account for your child, you or another adult would be added as a custodian on the account to oversee and assist with its safe management.
Related Terms
Bankruptcy
A legal process in which an individual or business has their assets liquidated or restructured in order to pay off creditors.
Student Loan
A type of loan provided by the government or other financial institution to help students and their families pay for their education expenses.
Education Savings Account (ESA)
A type of investment account designed to help families save for the future education expenses of a designated beneficiary.

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