Kids’ accounts: Saving for your children
With educational and other costs continuing to rise, custodial accounts with Thrivent Mutual Funds are a great way to establish kids' savings accounts for the children you care about.
Manage assets to benefit a specific child
Experience potential for growth with tax advantages
Use savings for educational or other expenses
Coverdell Education Savings Account (ESA)
- Tax-deferred earnings; tax-free withdrawals when used towards qualified educational expenses
- Distributions may be used for college and K-12 expenses
- Contribution limit of $2,000 per year, per student
Uniform Transfers to Minors Act (UTMA)
- Irrevocable gifts ensure assets benefit a specific child
- No penalties if funds are used for something other than education
- May be subject to “kiddie tax” rules
- No limit to contributions1
Looking for another account?
If you’re thinking of helping someone with education expenses, a 529 Educational Savings Plan may be an option well worth considering.
Sophisticated yet simple funds
From no-load, solution-based funds to practical, steady management and philosophies, our expertly crafted funds let you choose just what you need.
Tax Resource Center
We have the resources you need to help you make sense of the tax impact of your investments.
1 Contributions in excess of the annual gift exclusion will require a gift return to reduce the lifetime gift allowed.