Accounts opened for benefit of the minor. Minor is the primary account holder. The Custodian (adult) is the secondary account holder. Only the Custodian signs. Only one minor and one custodian per account. The current Custodian can complete a Successor Custodian form which would name the next Custodian on the account. It is encouraged that you complete this form. Age of Termination – 18 or 21, depends on the state and the account type. Once this age has been reached, the ‘minor’ has full rights to the funds in the account. Once this age has been reached, the minor must open an individual account with a photo ID, and provide a signed letter of instruction to move the funds. Both the minor and the custodian need to sign the letter of instruction.