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LADYLAWYER
LADYLAWYER, Lawyer
Category: Legal
Satisfied Customers: 6531
Experience:  Civil; Family; HOA; Landlord/Tenant; Real Estate; Probate; Insurance; Immigration; Wills & Trusts
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I need to change my sons mutual fund account to a joint account

Resolved Question:

I need to change my son's mutual fund account to a joint account with me, his mother. He will be still listed on the account but I will be the primary with my social security number being the number that will be used to report earnings to the Internal Revenue Service. The mutual fund account broker wants us to write a letter that he is relinquishing part of the shares to me or control. What I need is a rough template showing me how to write this type of letter. My son is 21 and this is why they are requesting it. We live in the state of California, I don't know if this makes any difference or not.
Submitted: 1 year ago.
Category: Legal
Expert:  LADYLAWYER replied 1 year ago.
Hi,

Are you wanting to be named on the mutual fund or do you want the mutual fund to be transferred to a joint back account with both of your names on it?

Customer: replied 1 year ago.
All I want to do is change the mutual fund account to a joint account with me named as the primary. I have to have my son sign a letter that states by doing this he is relinquishing to me part of the value of the mutual fund account.
Expert:  LADYLAWYER replied 1 year ago.
Hi Carolyn,

Thanks, XXXXX XXXXX wanted to make sure. Here you go:


To,
The Manager
__________ (Fill in the name of the Mutual Fund house in the blanks)

From,
_____ (Fill in your Name)
______(Fill in your Address & Phone number)
_______(Fill in your folio number)

RE: Relinquishment of Partial Control of Mutual Fund with folio number ______ (Fill in the folio number) to ____________ (Fill in the name of who the account is being relinquished to)

Sir,

As of today ____(fill in the date), I would like to relinquish partial control of my mutual fund ______(fill in the fund name) with folio number _____(fill in the folio number) to ___________ (fill in name of person account is being relinquished to), Social Security Number _____________. ___________ (fill in name of person account is being relinquished to) is to be named the primary person on the account and I am to remain secondary. Going forward, this is to be a joint account between myself and ___________ (fill in name of person account is being relinquished to).

Thank you in advance for processing this request.

________ (Fill your name and sign)

LADYLAWYER, Lawyer
Category: Legal
Satisfied Customers: 6531
Experience: Civil; Family; HOA; Landlord/Tenant; Real Estate; Probate; Insurance; Immigration; Wills & Trusts
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