I have physical shares bought in the name of my sons in 1998 and I am the guardian on those. They are still minors. I would like to transfer those shares from their name(minors) to mine (Guardian), so that I can demat those shares. Can you tell me what is the procedure for this and what are the forms I have to fill and where to send it etc..Your help is really appreciated.
Hello,
U can open a demat account on the name of ur children. There are provisions wherein u can authorise urself to trade or transact on behalf of ur son (minor).
Moreover, if u wish to transfer them to ur name then u may have to contact the company & submit the share certificates for transfers after giving them a valid proof that you are the Gaurdian. It may take a long process. So its better to open a Demat account on name of ur children.
Those who are lucky to have created assets like residential, financial and precious metals/ stones will always have a desire to bequeath these assets to his/ her loved ones in case of his/ her death. Having assets and dying without a will, giving no clear instructions on to whom the wealth will pass on, may lead to unnecessary litigation.
https://holisticinvestment.in/blog/guide-to-write-a-will/
Regards
Ramalingam K, MBA, CFP,
Director and Chief Financial Planner,
Holistic Investment Planners
“Best Performing Financial Advisor Award” Winners from CNBC TV18
www.holisticinvestment.in
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