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Transferring shares to Niece/Nephew

  • 01-04-2019 4:39pm
    Registered Users Posts: 1,030 ✭✭✭ OmegaRed

    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?