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re: Kid's money
Posted on 2/22/24 at 5:13 pm to bubba102105
Posted on 2/22/24 at 5:13 pm to bubba102105
I just went through the process of transferring assets from UNiform gift to minor accounts of stock to registering in their name as adults.
Save yourself the trouble.
Just put it in your account and keep a book.
When they are mature enough, gift it to them over time using the gift tax exclusion.
Save yourself the trouble.
Just put it in your account and keep a book.
When they are mature enough, gift it to them over time using the gift tax exclusion.
1
Posted on 2/22/24 at 10:17 pm to makersmark1
quote:
Save yourself the trouble.
Just put it in your account and keep a book.
When they are mature enough, gift it to them over time using the gift tax exclusion
I did similar. All of my accounts are with Fidelity, so I opened an individual account for each child, named it their initials, and will just gift it to them eventually when I deem they are mature enough, not when the state dictates.
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