bigwilly Wrote: ------------------------------------------------------- > Put it this way, if they live under your roof —> > Consider it yours. Crap…maybe I should invite my in-laws to live with me. They got some money. 
I say it :). If its your kids, under 18, or your wife consider it yours. I would say if your kids are over 18 you dont have beneficial ownership anymore probably, so that might be ok…
bigwilly Wrote: ------------------------------------------------------- > I say it :). If its your kids, under 18, or your > wife consider it yours. I would say if your kids > are over 18 you dont have beneficial ownership > anymore probably, so that might be ok… exactly my point. if you are LEGALLY responsible, then beneifical - else not
if you have multiple wives, under separate roofs, are they all beneficial?
comp_sci_kid Wrote: ------------------------------------------------------- > bigwilly Wrote: > -------------------------------------------------- > ----- > > I say it :). If its your kids, under 18, or > your > > wife consider it yours. I would say if your > kids > > are over 18 you dont have beneficial ownership > > anymore probably, so that might be ok… > > > exactly my point. if you are LEGALLY responsible, > then beneifical - else not Well…for a custodian account, you are legally responsilbe for the account and investment decision, however, you are not a benenfical owner.
ws Wrote: ------------------------------------------------------- > comp_sci_kid Wrote: > -------------------------------------------------- > ----- > > bigwilly Wrote: > > > -------------------------------------------------- > > > ----- > > > I say it :). If its your kids, under 18, or > > your > > > wife consider it yours. I would say if your > > kids > > > are over 18 you dont have beneficial > ownership > > > anymore probably, so that might be ok… > > > > > > exactly my point. if you are LEGALLY > responsible, > > then beneifical - else not > > > Well…for a custodian account, you are > legally responsilbe for the account and investment > decision, however, you are not a benenfical owner. you said it, you are not legally entitled to any part of the money in custodian account. When it is your wife - you are, your kids - you are, Your Uncle - you are not
Well, I think we are spilling into legal issue instead of CFA material…looks like we are playing with words here.