Stocks as gifts

C

cashmoney69

If I wanted to give some stock to a family member, how would I do this?.

Scottrade has a way of doing it, but I think it only works if both people have the same broker.

cm69
 
cash - if you don't both use the same broker, it's a pain. To my knowledge, you would have to request either the stock cert or contact the company that the stock cert is issued by to see what they need. Each publicly traded company has a 3rd party vendor that handles their stock business - tracking, issuing certs, etc.

When I was a broker, I would simply suggest the receiving person open an account and transfer the stock with a quick signature.
 
Quote from cashmoney69:

How long would that process take?..could it be done electronically?

cm69
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Once the 2nd account is opened, it was a very quick process - most times the same day the paperwork is signed. I have no idea how ScottTrade is, so make sure to ask them first.
 
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