I am investing in shares for my minor kid on Vanguard Personal Investor Kids platform. This is an investment account opened and operated by an individual adult for a child (under 18). The account is operated by and in the name of the individual adult with a designation referring to the child (e.g. John Smith A/C Jake Smith). Within the market these types of products may also be referred to as the adult acting “as trustee for” the child “as beneficiary” (although these terms do not necessarily mean there is a legal or formal trust relationship in place). I want to know the tax implications of this option. Would a transfer of shares when the child turns 18 trigger a capital gain event?
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13,735 views5 replies
5 replies
13,735 views
5 replies