FundSvcs Community

Expand all | Collapse all

Gift of brokerage account

  • 1.  Gift of brokerage account

    Posted 11-20-2019 03:29 PM

    Hello, all –


    We've received a gift of a brokerage account, which is constituted of cash and "cash alternatives."  The logistics of this seem very similar to when we receive gifts of stock – the assets were irrevocably transferred to us on a particular date, but won't be liquidated immediately. 


    Would it be correct to assume that we should 1) internally value this gift on the total balance of the account on the day it was transferred to us, and 2) receipt it like a gift of stock – describing the nature of the gift, but not formally assigning a value to it? 


    Many thanks for your input,


    Michael Halverson, Ed.D.
    Senior Director of Advancement Services
    Loyola University Chicago
    312-915-7283 | C. 320-363-4987 |


  • 2.  RE: Gift of brokerage account

    Posted 11-20-2019 03:44 PM
    That is exactly how I would do it.  I am curious about whether you were given the "account" or the content of the account.  I do not think it will matter much as far as your valuation and receipting is concerned.  However, if actually given the account - meaning the current account was not emptied but, instead, the actual account was placed in your name - I would probably modify the receipt to say, "Thank you for transferring ownership of your [fiancnaial institution name] account, containing the following assets . . .


    John H. Taylor
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987

  • 3.  RE: Gift of brokerage account

    Posted 11-25-2019 10:05 AM
    Aside from the financial instruments in the account is there anything else that makes up the gift? Is there some annual fee that has been paid already, or anything of that nature? You want to confirm that the account itself isn't something of value beyond what is in it.

    Thank you,
    Isaac Shalev
    CRM Expert
    Sage70, Inc.
    (917) 859-0151

    Schedule a 30-minute consultation now: