Securing the account with an initial $150 dollars - the approximate cost of 15 cases of San Miguel - Denise and Dustin Henrikson insisted that they only want the best for little Thomas, who was born Saturday June 16, weighing 6lbs 9oz.
"When I was growing up, my parents - God love 'em - couldn't afford any kind of future for me and my brother," said first-time mother Mrs Henrikson. "We just want to create a security blanket for James so that he doesn't ever have to go without the necessary supplies. A 33oz bottle of Jack Daniel's is fricking expensive these days, man."
Outlining their intention to set aside $200-a-month for the next 18 years, the couple hopes to save over $50,000 after interest - a figure that would go a long to securing Thomas' excessive drinking habits and cavalier social life once he hits college age.
"Heck, all of my college inebriation was paid for by student loans, which I am still paying back," said proud father Mr Henrikson. "Our long term aim is to put Michael through three years of frat parties, bar crawls and excessive drinking, without having to burden him with high interest loans."
"It's... it's the right thing to do."
Despite their apparent enthusiasm for Thomas' future, however, the Henriksons say the high cost of alcohol at Ivy League schools could be a factor in their son not choosing the likes of Harvard or Princeton.
"According to what you read, you can have just as good a social life at Butler University as you can at, say, Yale, and for a third of the cost," continued Mr Henrikson. "But we'll see."