Naming a child directly feels simple, but the money cannot just be paid to a young person. Depending on the account and the amount, a court may need to appoint someone to manage it, which adds time, cost, and public paperwork. When the child reaches adulthood, they may get the entire balance with no guidance. A trust lets you decide who manages the money, how it is used, and when your child receives it. Another option may be naming an adult custodian for the child. The right choice depends on the amount, the account type, and your family.
