So, I have a handful of different shares that my parents got for me and I’m finally trying to make it easier for me to manage. Before I would just wait for the tax documents and check the statements and be done with. But I don’t live with them any longer and it’s a pain to get them from my mother. I went to go add one to an online account and they said they had to mail me an online access code. So I called to finally change my address and now they say I have to fill out all this paperwork with my dad to do that. isn’t the point of this the fact that I turned 21 it was now mine?
33 (F) finally trying to figure out how these shares my parents were custodians on work.
byu/fullofuselessthought ininvesting
Posted by fullofuselessthought
2 Comments
Go to fidelity or schwab and open an account, then they can tell you how to get the shares moved into it so you can see everything from your phone.
It is unfortunately not automatic. The paperwork or signatures need to be carried out in most cases to help transfer the work over to you. Most of this is to protect bad actors stealing it besides just standard practices to document and figure out taxes.
I have a custodian account for my Nephew which I will have to do the paperwork for when he turns 18 or 21.