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I am 17. Can I have my custodial account using my own bank account and money? Also Maryland UTMA law? |
The UTMA law for custodial accounts has my parent/guardian/adult managing the account, but I have done research into the market and watched for over 6 months, and I am ready to establish long term investments. Can I set up the custodial account with my mother as the custodian, but wire funds from my own checking account, and be the one that trades my own stocks (even if not officially...)? Also, does anyone know the Maryland UTMA law well enough to tell me when I can claim the account as my own? Every site I've seen says 18-21, and 25 in some states. And nothing else... you are yet a minor...And you cannot enter in any contract unless you are above 18......... |
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