Changing name on CCL stock

[jparker10508]

Now that Princess won't stack military and shareholder stocks for OBC, I am asking if any of you know if we just add my name to the stock that my husband owns if Princess will accept it being under both names.  My Princess Cruise Planner has told me that if I put the stock under my name, he can keep the military under his and we will receive both. If the statement has both names, will it be accepted, or do we need to sell and rebuy with just my name showing? Thanks!

[DCThunder]

If the CCL stock is in hubby's name, you could just buy another 100 shares in your name and not worry about changing names.  Alternatively, sell hubby's 100 shares and then buy 100 replacement shares.

[Jadn13]

21 minutes ago, jparker10508 said:

Now that Princess won't stack military and shareholder stocks for OBC, I am asking if any of you know if we just add my name to the stock that my husband owns if Princess will accept it being under both names.  My Princess Cruise Planner has told me that if I put the stock under my name, he can keep the military under his and we will receive both. If the statement has both names, will it be accepted, or do we need to sell and rebuy with just my name showing? Thanks!

That sounds like it could work. When you submit you just choose your name for the stockholder.
Would then the credit card accounts need to be separate as to not combine on the final folio?

 Of course no one has experienced this yet so no first hand experience available.

Edited June 28, 2023 by Jadn13

[avonlady6390]

If you are considering buying 100 shares I would not wait as it has gone up considerably vin past couple of weeks.

[cr8tiv1]

Best to ask your stock broker.  I have been able to transfer shares of (generic) stock as long as we shared the same brokerage company (each having your own account).

 

It may become more complicated when filing taxes.  Get some financial advice.

[kiwimum]

Transfer them to a Family Trust account.   Works like a charm.

Edited June 29, 2023 by kiwimum

[KreinKrunker]

4 hours ago, DCThunder said:

If the CCL stock is in hubby's name, you could just buy another 100 shares in your name and not worry about changing names.  Alternatively, sell hubby's 100 shares and then buy 100 replacement shares.

Then pay fees for two transactions, or just call your broker and have him transfer ownership.  Have done it many times.

Edited June 29, 2023 by KreinKrunker

[SAKay]

I don’t know if this will help you, but here’s what I do. My husband gets the military credit. Our investment account is in both our names. When I bought the stock it was automatically in both our names. I always just print out the one page from our account that has the CCL stock. At the top I just cross out his name with a sharpie, along with all other info I don’t want Princess to see-account number, other stocks on the page, etc. I just leave my name, date , and the CCL stock showing. Everything else is blacked out. Works every time.  Military credit is in his name and stock credit in mine.  I just did it for a cruise next Mar 2024. Hope it continues to work this way ! 

[jeeper2]

1 hour ago, SAKay said:

I don’t know if this will help you, but here’s what I do. My husband gets the military credit. Our investment account is in both our names. When I bought the stock it was automatically in both our names. I always just print out the one page from our account that has the CCL stock. At the top I just cross out his name with a sharpie, along with all other info I don’t want Princess to see-account number, other stocks on the page, etc. I just leave my name, date , and the CCL stock showing. Everything else is blacked out. Works every time.  Military credit is in his name and stock credit in mine.  I just did it for a cruise next Mar 2024. Hope it continues to work this way ! 

I don’t even remove my husband’s name from the certificate.  I have always been the one to request the shareholder’s credit and it has always been assigned to my account, with the military credit to his.  This was still  true for my last two requests submitted since the announcement.  It should remain the same in the future…key word “should”!  😊

[Steelers36]

16 hours ago, jparker10508 said:

Now that Princess won't stack military and shareholder stocks for OBC, I am asking if any of you know if we just add my name to the stock that my husband owns if Princess will accept it being under both names.  My Princess Cruise Planner has told me that if I put the stock under my name, he can keep the military under his and we will receive both. If the statement has both names, will it be accepted, or do we need to sell and rebuy with just my name showing? Thanks!

If your investment provider will do this for you, or even just transfer from his account to yours, you have a tax situation.

 

IMO, in the first case, you will have acquired a 50% stake in the shares at the current value on the day the ownership change was made.  This sets a base cost for establishing future capital gain or loss on your part for 50% of the value of a future sale.  Hubby has sold a 50% stake in the shares to you at the same value and hence has a capital gain/loss on half of the shares.  When shares are sold, he will have a capital gain/loss on his half based on the original purchase price.

 

In the second case, hubby is deemed to have sold his shares on the day they are transferred to you at some determined price (say opening, closing of mid-day average).  He will be filing a capital gain or loss for that tax year.  You acquire the shares at the same value used to set his sale price and you have an established cost base for the shares now in your name and again subject to future capital gain/loss when you sell or transfer them.

 

[Steelers36]

4 minutes ago, jeeper2 said:

I don’t even remove my husband’s name from the certificate.  I have always been the one to request the shareholder’s credit and it has always been assigned to my account, with the military credit to his.  This was still  true for my last two requests submitted since the announcement.  It should remain the same in the future…key word “should”!  😊

If the stock is in both names, then whichever spouse submits the claim gets the credit and either is allowed to make the claim.

[MissP22]

We just summited for 2 cruises at the end of this year. My husband received military (automatically as usual) and the stockholder OBC which in in joint names was sent with my name. There was no need to put just my name as the stock owner.

Whether or not that will work in the future, who knows. I'll worry about it when they refuse my SOBC at the time. If I don't get it, I'll be selling the stock.