Gift Account

In August of 2017 I formed a “Gift Account.” This account is where I will store shares of stock to be gifted to younger family members, nieces, nephews and grandchildren. At the present time these family members range from 6 years old to newborn. Whenever I feel there’s a special occasion to give a stock gift, it will come from this account. The gifted stock will be held in this account until the recipient is 25 years old. This is a post college account. When they reach 25 years of age they will have to open an account and the gifted stock will be transferred to the account in their name. I did it this way so the stock gifted, if substantial, will not affect their college application because it will be in my account. Upon my retirement or death, this account will be controlled by the gift account Trustee, my daughter Jaclyn.

My “Gift Account” is a spin-off of my trading account. All stocks listed below were bought in my trading account with profit from my trading, and transferred to the gift account. All future stocks will also be bought with trading account profits.

For my “Gift Account” I’m picking stocks I feel will be much higher 25 years from now. If I make a bad pick and it hasn’t been gifted yet, I’ll sell it and replace it with a better pick. I’ll run it like my own little mutual fund. All extra shares of gifted stock as a result of stock splits will go to the gift recipient.

Below are the Stocks held in my “Gift Account.”  This list will be updated as I buy more stock. Some stocks are still being held in my trading account. These stocks will have a note written in the right column. The reason for this is the position has a larger value. I work on margin in my trading account and if I remove them it can affect my trading. I will transfer them slowly as my trading account value goes up.