Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I have an odd situation. My 2 y.o. was given a few blocks of shares over the past couple of years by his grandmother. The shares are in his name. The company is public, but closely held. He's registered with the company as the owner, for dividend reinvestment, etc.

I finally got around to opening a UTMA account for him at TD Ameritrade, and sent them the share certificates. They have now sent me all sorts of forms: POA, Affidavit of Custodianship, and a release they want signed by my bank.

Fair enough, assuming I was gifting him the shares, except they're not my shares to give.

Does this sound legitimate, or am I stuck in the discount broker "we don't want to do any legwork" zone?
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.