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Sort of spinoff- Q about custodial stock accounts

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lpg21
LIF Infant

Member since 9/21

342 total posts

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Sort of spinoff- Q about custodial stock accounts

So just wanted to ask in case anyone is familiar with purchases of stocks... when my DH was younger his uncle bought shares of stock in a company under a custodial account for him. To this day, we get the dividend checks, and any correspondence regarding the stock/company addressed to DH as custodian account w/ his uncle's name. Sometimes the bank gives us issues w/ cashing the checks because his uncle's name is on it. This uncle of his moved to FL years ago and he doesn't talk to him. DH tried calling up the stock company and they told him in order to take his uncle off the account as custodian he would need the original stock certificate. Which seems ridiculous because my DH is in his early 40's so obviously old enough lol... He has no idea if his Uncle has the certificate, or where it would be. Just was curious if anyone knew anything about removing a custodian from an account like that.

Posted 1/5/23 10:33 AM
 
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MissJones
I need a nap!

Member since 5/05

22136 total posts

Name:

Sort of spinoff- Q about custodial stock accounts

I had this with my father! To this day, I still get the checks issued to my dad as custodian of me. I’m 45!!!! I deposit them on my banking app to avoid the issue.
I think I tried to get it fixed but it was difficult.
I’m
Curious if anyone has an answer

Posted 1/11/23 4:33 PM
 

LSP2005
Bunny kisses are so cute!

Member since 5/05

19458 total posts

Name:
L

Re: Sort of spinoff- Q about custodial stock accounts

The reason he needs the certificate is that they need to be registered shares and are not. If the uncle is alive, then he needs to ask for the certificate.

Posted 1/15/23 2:57 PM
 
 

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