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It looks like we're both in agreement that there are legal requirements beyond "just transfer all the money to my son". Point being. When the client ask "trans
by user5994461 9y ago
It looks like we're both in agreement that there are legal requirements beyond "just transfer all the money to my son".
Point being. When the client ask "transfer the money to my son and close my account", he usually doesn't mean "take 30% off, transfer what's left to my son and close the account".
You can have a look at France. I am not sure what paperwork is needed to make it legitimately, it's non trivial.
- jonknee 9y agoIn the context provided it sounds like the client meant his son would be taking over as the steward of investvesting his money and was going to put it into BTC. This is not illegal in any way. It’s not any different than having an investment manager in the first place, other than it sounds like an objectively terrible idea. It’s pretty common to move around retirement accounts in the US, the most popular type are tied with your job and frequently move when you change employers.
- tim333 9y agoIn the UK on the other hand there is no paperwork at the time. You just transfer it. If the old guy dies within something like 8 years though it should be included in his estate.