@Pretty,
Wrong #,Young is in Naija.
BTW have you read the katiba document?

@MaichBlack, general common law rules:

- A minor has no capacity to enter into contracts/ buy property. There are exceptions though - A girl between 16 and 18 may get married with parents's consent, a minor can be a partner in a business but cannot be active in running the business etc.

- The parent/guardian can run the investment account as the minor's representative or trustee.

- See a lawyer for a simple trust deed.

I have come to realize that my stocks portfolio will be left to my children if the end of the world doesn't come.I hope to leave them a sizeable fortune.

@ You can't stop a long name - I hear you! Times are changing. Kids are becoming smarter. This issue of saying a 16 year old can't trade is utter nonsense. We have kids as young as 12 in rural Kenya running successful (albeit small scale) businesses!! Ever gone to a village and met a primary school kid rearing and selling rabbits & chicken, planting and selling vegetables of all kinds in a ka-small shamba and all these while he is still attending classes at the local primary school?

Kids should be allowed to trade - maybe with some control - if their 'environment' allows them to. I have met 13 year olds who are way smarter than 20 year olds.

@Black.....i have worked with a stockbroker and i want to give you facts
1. If you trade using your name, when your daughter gets to 18 years and you want the account to read her name( Which is not possible), this is treated like a Private Transfer. You are the seller, your daughter s the buyer, so commission s deducted twice...... not good. You would rather sell and then buy shares for her.
2. Again it can be treated as a Transmission.... since the account s supposed to read a different name( which s not possible). In CDSC, Name and status( LI,FI LC ETC) CAN NEVER BE ALTERED!!!! since what s used to open a cdsc account is an ID number, Passport.... which are unique.... the account is yours.. PERIOD!!!!
3. What i can advice you is to buy shares and convert them to share certificates under her name... that may require swearing an affidavit and other formalities which the lawyer n cdsc will advice you.Later your daughter can open a cdsc account and immobilize her share certificates.
4. Also if your daughter has a passport, some brokers can agree to open a cdsc account using her passport. What can happen s u just invest( buying n selling) but not request to be paid.
5. The best of all is... Open a joint account with your daughter... of course your ID will be used. A joint account, both parties or 1 party can transact. SO when she gets to age, she can continue operating it as you withdraw.. after-all.... she s your daughter.

I hope ive assisted you.