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Author: Simon001 One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 195  
Subject: How to invest for my daughter? Date: 5/12/2007 9:52 PM
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Hi all,

I'm of British / Canadian nationality and I live in Japan. I have a daughter 2 years of age. My parents live in England (mother) and Canada (father) and they are saving on behalf of their granddaughter.

I would like to invest this money in shares on her behalf.

Does anyone know what would be best in my situation? As I see it, my options are : -

1) To get the grandparents each to open brokerage accounts in her name in their countries and nominate me as trustee so that I can invest the cash;

2) To pool the money in Japan in a brokerage account in trust in her name with me as trustee.

The former looks more attractive to me, though I know that IB (my brokers), for example, do not accept trust accounts for minors. Are there any US, Canadian or UK brokers that would do this? She is a non-resident minor alien. (Sounds terrible!) To send the money here and convert it into yen seems a terrible waste with the conversion fees and the transfer fees.

Thanks very much,

Simon Thornley
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Author: TonV Old School Fool Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126 of 195
Subject: Re: How to invest for my daughter? Date: 11/8/2007 11:58 PM
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Hi,
i am in a somwhat similar situation. We use UTMA accounts. see http://www.tdameritrade.com/educationaccounts.html . I am not sure if you have to be a US national to open one for a kid..

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