Who has access to use money in a custodial account?

In a custodial account, the custodian—typically a parent or guardian—manages the funds on behalf of a minor beneficiary. The custodian has the authority to make withdrawals and manage investments until the minor reaches the age of majority, at which point the minor gains full access to the account. The funds in a custodial account are intended for the benefit of the minor, and the custodian must act in their best interest.