Advice for financial savings for little one?

My daughter is about 10 months outdated. I’ve some cash apart that I need to put into an account to begin constructing. I need to have the ability to add and probably withdraw sooner or later with out penalty. I plan on including $100-200 a month to begin and build up from there.

I'm undecided if I need this to immediately flip over to her at 18, or if I need to present it to her when she's a bit of older for a home or one thing. So, I need to have a bit of bit extra management than it immediately being transferred to her title at 18. Professionals and cons of each conditions? I'm new to this.

Thanks.