Can a parent be custodian over their child's money if the child is over eighteen?
"Custodian" generally refers to a custodianship created under the Uniform Transfers to Minors Act (UTMA) of a state. Each of the states has its own version of the UTMA (there are one or two states that still use the predecessor law, the Uniform Gifts to Minors Act), and except for the basic concepts of the law, which are common to all the states, there are some important differences between the states' versions (so "Uniform" can be misleading).
In some of the states, UTMA conservatorships are supposed to be dissolved and the property handed over to the owner (the former minor) when the owner reaches age eighteen. In other states, it's age twenty-one. In a couple of states, it can be any age between eighteen and twenty-one that the party creating the conservatorship designates. Finally, in a number of states, some types of transfers to minors under the UTMA put property in the conservatorship until age eighteen and other types of transfers put property into conservatorship until age twenty-one.
What this means is, we can't really give you a definite answer. Contact an attorney that works with your state's UTMA to get infomation on this rather complicated topic.
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"Custodian" generally refers to a custodianship created under the 