It was my impression that minors NEEDED a custodial account since they were NOT allowed to own securities in their own name. How could a 17 year old be listed as the owner of stock?I also recently purchased some Texaco stock. I think a major oil company, probably the one with the most proven reserves, iss an excellent candidate for a long-term hold. They ain't makin' that stuff no more!So, dcunited, you are going to leave the 97 IRA alone with its contribution, and not roll it into a Roth? Or are you planning to stay with the traditional IRA format? I am feeling that, at these VERY limited tax liability income levels, this is the most compelling case for the Roth.
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