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Reply to "Custodial Account Question"
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[quote=Anonymous]We started custodial accounts when our kids were born. The original thought was give it to the kids after college graduation, they could use for grad school, down-payment for a house or some other big need. Well, oldest is now 20, and we are rethinking our original decision. Because when she turns 21, the $$ becomes hers. And it's a lot of money (around $100k). It was our money we put in the account, and yeah, we want to control how it's spent. I've been transferred to so many different people, and spent so much time on hold at Vanguard, I'm hoping someone here can help, because I don't have another hour to spend on hold, being transferred, and explaining again. Is there a way to undo the custodial part and just have the money in my name? It's not an IRA, just a regular brokerage account. And what do I need to ask for at Vanguard the first time, so that they stop transferring me around workout anyone actually helping me. TIA[/quote]
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