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Can parents access a Coogan Account?

The parents remain the trustees of the account with the child as the beneficiary until they turn 18 but are restricted from accessing these funds for any reason.

Does Bank of America have Coogan accounts?

But, at Bank of America, you can apply for a Coogan trust account online. You just need to enter personal information for you and your child, including Social Security numbers and your address.

What is a Coogan Account?

Coogan Accounts: A Brief History Known as the Coogan Act, it stipulates that 15% of a child performers earnings must remain in trust for them until the child docHubes adulthood. 1. The Coogan Act provides that a trustee manages the funds set aside for the child in ance with strict investment guidelines.

Did Jennette McCurdy have a Coogan Account?

McCurdy stated in an interview that she did not receive all of her payment from acting as a minor because her Coogan account was not properly filed.

Which states require Coogan accounts?

In states other than California, Coogan Accounts go by other names. The stipulations are the same15% of a minor actors earnings must be saved until they docHub adulthoodand these accounts are required in New York, Louisiana, Kansas, Nevada, Illinois, North Carolina, Pennsylvania, Tennessee, and New Mexico.

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