: How to give money to a 10 year old niece on joint business venture? My niece and I came up with a good idea that I think will make some money. I want to compensate her accordingly for what she has done. I don't want to give

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Have you considered that compensation for services provided could be considered wages deductible from your own personal business income [which is perhaps what you will be earning from this idea]?

You will be in a higher tax bracket than your niece, so it is not a penalty to do things correctly [provide compensation for services rendered, instead of pretending it is a gift]. In fact, in this case, it may provide an overall beneficial outcome for you.

In order to do this, likely you can't provide the money to a trust on her behalf, so she may have access to it. It is possible that her parents may have the right to control her access to funds as a minor, I'm not sure - but if that's a route you take, make sure her parents control her money in her best interests.

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Consider a UTMA:

One common form of custodial account is known by the acronym UTMA. UTMA stands for the Uniform Transfers to Minors Act, which is the legal provision in many states that authorizes a custodian to hold assets on behalf of a minor child until the child reaches the age of majority -- typically either 18 or 21. Although the custodian has legal possession of the minor's assets in a UTMA account, UTMA also imposes a fiduciary duty on the custodian to hold the assets on the minor's behalf. In addition, for tax purposes, the account is treated as the minor's, rather than as the custodian's, which has its advantages.

This does not meet your criteria for being 25 years old.

An irrevocable trust may allow you to enforce that age restriction:

An irrevocable trust is a type of trust where its terms cannot be modified, amended or terminated without the permission of the grantor's named beneficiary or beneficiaries. The grantor, having effectively transferred all ownership of assets into the trust, legally removes all of their rights of ownership to the assets and the trust.