If you want to save money for a minor child's future financial needs, while the interest earned is considered the child's for tax purposes...
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A safe place to put your money |
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Earn higher interest on higher balances |
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Under the Florida Uniform Transfers to Minor Act the account must be opened by an adult custodian and is not accessible to the minor without consent of the custodian until the minor attains the age of 21 |
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Any withdrawals by the custodian must be used for the minor's benefit |
Up to $9,999.99
$10,000.00 - $24,999.99
$25,000.00 - $49,999.99
$50,000.00 - $299,999.99
$300,000.00 - $999,999.99
$1,000,000.00 and over
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