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What is the difference between opening a trust account for a minor and a custodial account?
Wiki User
∙ 14y ago
A tust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary. A trust can be setup for a trustee of any age, and that age can be specified by the trustor. A custodial account is managed by an adult for a client who is considered a minor age 18-21 years old. Once the client reaches the legal age of their state of residence the account is taken over by the named account holder.
Wiki User
∙ 14y ago
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What is the difference between a joint account and a beneficiary to a bank account?
a joint account is an account that is joint together for an opening account. While beneficiary account are people that gain some promo from the bank
What is opening balance control account?
we should entry the opening balance to account for total balance ,That adjustment is opening balance control
What is difference between debit turnover and credit turnover?
1. Credit Turnover is the summation of all the credit transactions in your account during the statement period.2. Debit Turnover means the summation of all the debit transactions in your account during the statement period.3. (Opening balance of account) + (Credit Turnover) - (Debit Turnover) = Closing balance of account.
When opening a bank account is important to review?
There are many things which are important to review when opening a bank account.
Why account opening form is important?
bcoz without it account will not be opened as it is opening form............................. ha.......ha..................ha..............
What is the difference between a joint account and a beneficiary to a bank account?
a joint account is an account that is joint together for an opening account. While beneficiary account are people that gain some promo from the bank
What is the difference between a trust and a checking account?
a trust account means you trust the person that is opening the account, and a checking account means you will keep checking it to make everything is okay.
Syndicate bank nri account opening form?
Opening account
What is opening balance control account?
we should entry the opening balance to account for total balance ,That adjustment is opening balance control
Requirements for opening an account?
These requirements vary based on the bank and type of account you are opening The minimum balance required to open an account may vary greatly from anywhere between $1 and $2,500. Comparisons shopping is necessary to find the best deal for you, which is dependent on your location.
What is difference between debit turnover and credit turnover?
1. Credit Turnover is the summation of all the credit transactions in your account during the statement period.2. Debit Turnover means the summation of all the debit transactions in your account during the statement period.3. (Opening balance of account) + (Credit Turnover) - (Debit Turnover) = Closing balance of account.
When opening a bank account is important to review?
There are many things which are important to review when opening a bank account.
What is the Difference between 2 plate and 3 plate mold?
In two plate mold there is single opening but in three plate mold there are two opening.
Why account opening form is important?
bcoz without it account will not be opened as it is opening form............................. ha.......ha..................ha..............
What should you review when opening a bank account?
Generally most bank account opening is standarized, the difference is fees and politics. You should rview the banks public image, are they in a lot of lawsuits and have to settle fines, what is their handling of complaints how accessible is a banker for you and what are the charges. And do not forget to review their privacy policy
What is Account Opening Department in bank?
As the the title implies: Account Opening Department, it is the department or person you will be directed to if you wish to open an account in a bank or building society.
How one can hear songs while opening your orkut account?
how one can hear songs while opening my orkut account
