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Author: DownwardSpiral One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76418  
Subject: Re: Roth IRAs and Minors Date: 9/25/1998 9:58 AM
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Rayvt replied:

<< <<So, once the account is completely opened and you have the account numbers, personal broker, etc., THEN fill out the trading authorization/limited power of attorney form to allow one or both parents to select investment vehicles for the child. >>


Why bother? With an internet broker, all you need is the userID and password. I manage 5 account for others, and with none of them have an official trading authorization. 'course, the broker won't talk to me on the phone---guess they can figure out that I'm not my mom.

Ray >>

For me, they woudn't issue the online trading authority until there was an authorization on record. After all, this is a minor's custodial account. Maybe they wouldn't catch it in all cases.

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