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In a custodial account held by a grandparent, dividends are typically paid by the investments within the account, such as stocks or mutual funds. The company or fund that issues the investment distributes the dividends to the account. The grandparent, as the custodian, manages the account until the minor reaches the age of majority, at which point the account and its assets are transferred to the beneficiary.
What else can I help you with?
Who is the IRA plan trustee?
IRA brokerage account don't have trustee. They do have a custodial which would be the brokerage at which the IRA is held at.
When can a minor claim a custodial account in Michigan?
18 is the age of majority in the state of Michigan for Custodial accounts. In order to receive the funds the minor & the custodian must submit a form to the company where the funds are held.
How do you use custodial investigation in a sentence?
The man was held in the cells, pending a custodial investigation
Do bond ETFs pay dividends?
Yes, bond ETFs can pay dividends to investors. These dividends are typically generated from the interest payments on the underlying bonds held by the ETF.
Are Short dividends taxable?
If your shares were lent to a short seller, any payments in lieu of dividends you received are taxable. And what is even worse is that they are not qualified dividends for purposes of the reduced tax rate on dividends. If you are the borrower, any payments you made to the lender are an itemized deduction if you held the short position for 46 or more days. They are an addition to your basis if you held it for 45 days or less.
Are dividends concentrated in the companies traded on the New York Stock Exchange or do closely held corporations pay dividends with the same frequency and at the same rates?
Galina
My dads sister is on his checking account but not on the will which is to be divided between the kids. can she legally take the money for herself even if the will say to divide between the kids?
It depends on how the checking account is held. If the account is a custodial account it will pass according to the will, then she cannot take the money. However, if this is a joint checking account, in the eyes of the bank she is a co-owner and is legally permitted to take the money.
What does fbo mean on a bank account?
FBO stands for "For the Benefit Of." In banking, it indicates that a particular account is held for the benefit of another party. This designation is often used in trust accounts or custodial accounts, where one party manages the funds for the benefit of another individual or entity.
Are dividends mandatory for employee stock ownership plan?
Dividends are not mandatory for Employee Stock Ownership Plans (ESOPs). While companies can choose to pay dividends on the stock held within an ESOP, it is at their discretion. If dividends are paid, they may be distributed to employees or reinvested in the plan, depending on the plan's terms and company policy.
What is the ticker symbol for Fareway?
Fareway stock is privately held...therefore stock value and dividends are kept confidential..
Mother wanted to leave state with child to pursue career change. Judge awarded 'temporary custody' to father . What does this mean?
The father has temporary custody until the court has held a hearing, examined the issue from both sides and made a decision concerning a permanent custodial order.The father has temporary custody until the court has held a hearing, examined the issue from both sides and made a decision concerning a permanent custodial order.The father has temporary custody until the court has held a hearing, examined the issue from both sides and made a decision concerning a permanent custodial order.The father has temporary custody until the court has held a hearing, examined the issue from both sides and made a decision concerning a permanent custodial order.
In Texas can the custodial parent be held liable for the child's cell phone bill provided by the noncustodial parent?
Whose name is the phone in?
