Stock Transfer

[havingbeen]

I bought some BofI share using AIB now I want to transfer them to my grandchildren AIB say I must use Computershare. Their website is like a minefield to me. I'm looking for the easiest and hopefully the cheapest way to divvi 3000 BofI shares between 6 grandchildren all under 18 and they are in three different families. Me I'm on a state pension and part of similar from the UK. In future I think I'll put the money on a horse it would be easier to dispose of the winnings. Hope someone can help.

 

[roro123]

Request a stock transfer form and have each portion divided into their names. Thats fairly expensive though as I think there are stamp-duty implications as well as administration costs.
Only other way I can think is to open 6 joint stock trading accounts with you and each grandchild as co owners. But yet again very expensive 6 and cumbersome. I think for the value involved you should make a provision in your will to divide the holdings up 6 ways, but by then there might be more grandkids to take care of.
For the amount of money involved you probably would be better selling the shares when you feel its right and buying Prize Bonds in the kids names.

 

[St James]

you have to pay 1% stamp duty on the transfer.

If you download transfer forms, complete them and send it to Computshare, along with a letter stating you want to pay the stamp duty, they might be able to help you out.