Go to Jeff Salisbury LWGate Home Page.From: GetFlow28@aol.com
Subject: stock transfer and income tax filing
Date: Tue, 11 Jan 2000 18:58:41 EST
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My husband was recently contacted by the state social services department regarding a paternity claim being filed against him (I'm not sure what the accurate legal term is). We fully understand that we will have obligations *if* the child turns out to be his (should have DNA results in about 5 weeks). But until that time, we are interested in protecting the well-being of our family. He has about $7000 in stocks that are currently in his name only. He wants to transfer them to my name only. Is there a way to do this and, if so, any opinions on the best way of doing this? I am not presently on the account. Will he need to "gift" them to me or are we able to simply transfer them since we are married? I am sure they will be subjected to a transfer fee but that is acceptable. We realize we may need this money for back support - but don't want it to be used to calculate the monthly payment. Also, any recommendations on filing our 1999 tax return under these circumstances? Should we continue to file jointly or should we consider filing seperately? We will be visiting with an attorney about some of these issues in the near future. But I have received such good insight from this group that I am hoping to hear from some of you. Thanks for you help! Jackie Flowers GetFlow28@aol.com - -
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