I have some stocks that were purchased under a UTMA sometime in the mid-90s when I was a teenager. My mother is still listed as the custodian on the account. I want to sell these shares. The stock happens to be Proctor and Gamble and its managed by Wells Fargo Shareowner Services.
Do I first need to transfer the account from a custodial UTMA account to a normal account or can I just sell the stock?
If I sell the stock would the check be issued to me or to the account custodian or both?
The custodian is still alive and we visit regularly, but I'd prefer to avoid the hassle of having to get her to sign forms or sign a check. I meant to get around to changing the account over to my own name several times over the last two decades but there was never a need.