Legal Question in Tax Law in New Jersey

Stock transfer

I want to transfer 5% of the stock to my son over a 20 year period and defer payment for 10 years. What the legal consequences? What forms do I need


Asked on 12/29/08, 5:27 pm

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Stock transfer

More information is necessary to respond. Is this listed stock on a security exchange, or stock in a private business? Are you gifting it to him or selling it to him? Either way, what restrictions, if any, are you putting on his ability to sell or transfer it, if any? What happens if he sells it as soon as he gets it - Can he keep the proceeds or use the funds to pay you? What is your cost for the stock and what is its current market value? Once these questions are answered, I can assist you. You might want to contact me directly with the information.

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Answered on 12/30/08, 3:26 pm


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