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Trust Glossary

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.

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The content in this glossary is general in nature and is intended for informational purposes only. It is not intended to provide specific advice or recommendations for any individual or organization, because the facts and circumstances surrounding each situation differ. Please consult your attorney, tax advisor or other professional advisor for advice on your particular situation.

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