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Who calls the shots?
The boy’s brokerage accounts are set up as custodial accounts as they are too young to invest in the market by themselves. At this point they actual purchases and sales are in the hands of their father.
At 18, however, they would legally be able to do anything they wanted with the money, a thought that caused their father to have some apprehension.
“I wouldn’t want them to take all the money and spend it on a Porsche Boxster,” he said.
“A Ferrari, Dad,” responded Matthew.
Asked what they think could be done with their money, both boys responded with some traditional, sober answers.
“It might pay for college or to buy a house or something,” Matthew said.
Brian Coffin went to Matthew’s IffilHt’ff #£*•##»%•%• «'» a I • . •
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