Guardian IRA
Definition of 'Guardian IRA'An IRA held in the name of a legal guardian or parent on behalf of either a child under the age of 18-21 (depending on state legislation) or an individual who is incapable of handling finances due to physical or mental disability. |
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Investopedia explains 'Guardian IRA'The guardian is responsible for signing documents on behalf of the minor or special-needs adult. The responsibilities of the guardian cease once the child is no longer a minor or until the adult is able to handle his or her finances. |
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