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Author: FalseStaff Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 6774  
Subject: Child owns shares--brokerage is confused Date: 8/1/2007 10:31 AM
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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?
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