What type of custodial investment account is the best for a dependent child?

I am considering setting up a custodial stock account for my 2 year old. I’m seriously considering DRIP type investment.

What type of account is most beneficial in terms of tax benefits, for both parents and children?

Is it better to own a separate DRIP account until the child reaches the adult age and then gift them the account or use it to pay for the education?

Thanks

By: Mike S

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