I cannot imagine making a 17 year bet on a startup. I like that you're all parents (+ an uncle, close enough) and actually adults rather than a crop of 20 year olds about to be acquihired, but what happens if you just stop for any reason?
You see -- those kind of red flags to me would be a huge no-no. Like those Cayman accounts and other accounting practices.
Something is fishy here.
Your savings account is held by a Delaware corporation. Oh no!
What happens if TrustEgg goes out of business, is my child’s account safe?
Definitely. If TrustEgg has to close its doors, or destroyed by an act of god, the underlying accounts would be transferred to another Trust Co, or the child’s parent/guardian would be named custodian. This would be done at the discretion of the State Division of Financial Institutions.