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Q:

My minor child has reached the age of majority for our state. How do I change a custodial (UGMA/UTMA) account to an individual account in her/his name?

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Changing from a custodial account to an individual account is, in effect, a change in ownership of the shares held in the account. In order to change the ownership of a Pax World custodial account, we require a New Account Application be completed and signed by the child. We also require a letter of instruction from either the custodian or the child with EITHER (a) the signature on the letter guaranteed by a Medallion Signature Guarantee (MSG) Stamp, which your local bank or brokerage firm should be able to provide, OR (b) a certified copy of the child’s birth certificate. more
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Changing from a custodial account to an individual account is, in effect, a change in ownership of the shares held in the account. In order to change the ownership of a Pax World custodial account, we require a New Account Application completed and signed by the child along with a certified copy of the child’s birth certificate and EITHER (a) a letter of instruction from the custodian with the custodian’s signature guaranteed by a Medallion signature guarantee, which your local bank or brokerage firm should be able to provide, OR (b) a letter of instruction from the child. Option “b” does not require a Medallion signature guarantee. more
paxworld.com
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