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Transferring shares to Niece/Nephew

OmegaRed · 2019-04-01 15:39:58

My brothers child is due to be born in the coming days and as a present, I would like to buy shares for the baby and "transfer" them to the child in there name. Can I do this and if so what are the implications? I am planning on buying the shares on the day the child is born and then printing and signing the purchase…

01-04-2019 3:39pm

#1

OmegaRed

Registered Users, Registered Users 2 Posts: 1,055 ✭✭✭

Join Date: March 2004

Posts: 805

My brothers child is due to be born in the coming days and as a present, I would like to buy shares for the baby and "transfer" them to the child in there name.

Can I do this and if so what are the implications?

I am planning on buying the shares on the day the child is born and then printing and signing the purchase contract on the same day stating I have transferred them to the child. This means I'll effectively have mad no profit on the purchase. I then presume, at a later point in time, I could then setup a brokerage account for the child and transfer said shares there.

Has anyone does this before?

Thanks

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