Claim: A custodial account is setup for a parent with the minor as custodian, such as a Coverdell education savings account for college savings.
Evidence: A Coverdell education savings account (also known as an education savings account, a Coverdell ESA, a Coverdell account, or just an ESA, and formerly known as an education individual retirement account), is a tax-advantaged investment account in the U.S. designed to encourage savings to cover future education expenses (elementary, secondary, or college), such as tuition, books, and uniforms (for the same year as the distribution). The custodian is often the minor's parent.