Legal Question in Business Law in Florida

For the benefit of the minor, such issuance of corporate shares should comply with the Florida Uniform Transfers to Minors Act. A custodian, guardian, trustee, or other appointment should be able to hold and manage the shares for the benefit of the minor. Of course, a parent can handle this responsibility. Advice: issue the shares in the name of the minor, citing the custodian, trust, or other arrangement consistent with the cited law for managing the shares, otherwise the minor cannot transfer, sell, transfer, or otherwise manage the stock.

The use of a Custodian to hold the shares is merited over the court Guardianship that would otherwide be needed to have any exercise of the minor's shares during his/her minority. However you may also consider having your legal counsel set up a short term trust, wherein you could designate the economic and future benefit of the shares, along with having someone else receive any required notices, such as a "designated representative" should you not want the child's parents or custodian to have confidential knowledge of the working of the Corporaton or its business affairs. Further you could restrict the shares to be S stock without a future cancellation of the tax benefits you may have previously established and be relying upon. Hope this helps.