Guardian IRA
An IRA held in the name of a legal guardian or parent on behalf of either a child under the age of 18-21 (depending on state legislation) or an individual who is incapable of handling finances due to physical or mental disability.
Investopedia Commentary
The guardian is responsible for signing documents on behalf of the minor or special-needs adult. The responsibilities of the guardian cease once the child is no longer a minor or until the adult is able to handle his/her finances.
Related Links
Introductory Tour through Retirement Plans
Who Is The Beneficiary Of Your Account?
Don't Forget The Kids: Save for their Education and Retirement
See also: Custodial Account, IRA