Why BC has his graduate level kid depositing checks into his account is beyond me. I just don't get it. My parents and I cut that cord when I was about 14. I would never want my money going into my parents' accounts and I'm younger than BC's kid.
I think we got DS his checking account (UGMA-Custodial) before he could walk. We used his account as a conduit for funds into/out-of other UGMA accounts. The other accounts were mutual funds, Roth IRA, Life Insurance, Stafford and PLUS payments by the second month of college. By graduation his credit score and credit card limit was very high. The trick is have accounts in his own TIN.
The hard part was taking my name off the accounts that were custodial.
. Dumb.
