What does custodial fbo mean on a beneficiary designation?

Custodial FBO stands for "Custodial For the Benefit Of." It is used in beneficiary designations to indicate that a custodian will manage the assets on behalf of a minor or individual who may not be able to manage the assets themselves. The custodian is responsible for overseeing the account until the beneficiary reaches a certain age or meets specific criteria. This designation ensures that the assets are handled appropriately in the best interest of the beneficiary.