Custodian - A financial institution such as a bank or trust company that holds a person’s or company’s cash and securities for safekeeping. A person named by a donor or personal representative to hold and manage property on behalf of a minor, generally under a statute such as the Uniform Transfers to Minors Act of the donor's or representative's resident state. A custodianship is similar to a trust for a minor beneficiary, although a custodianship, as specified by law in most states, ends when the minor attains the age of majority, while a trust continues according to its terms.