I am I minor, and own stock under the WA unif. transfers to minors act as my dad as custodian...?

Question

Can I cash the divedend check into my bank account? The check says "Pay To The Order Of: [name] Cust [name] under the WA Unif transfers to minors act"

Answer 1

For most custodial accounts, you need the signature of the custodian on the check to cash. But if your dad is also on your bank account, no problem. The act just allows the transfer of dividends as gifts for the purpose of taxation. Get a joint bank account if you do this often.