The needs of dependent children is one of the primary financial goals that most people save and invest for during their earning years. This includes saving for their education, career, marriage and other financial needs. Knowing how to make and manage these investments efficiently will go a long way in getting to the goals.
Holding the investment
Investments for minors can be made and managed in two ways. One way is to hold these investments in your name and once the corpus is built, assign the funds to meet the different goals, including those related to children. The other way is to hold the investment in the child’s name itself. Investments that are held in the name of your children, who have not yet attained the age of 18 years, are called minor investments. You can choose to hold the investments either way though there are some differences in the procedures involved and how they are managed.
