Born John Stephen Sudduth in Louisiana, Mikky Ekko had a restless childhood as the son of a preacher, moving around America's deep south. Having settled briefly in Tupelo, Mississippi, and absorbed as much gospel as he could, he relocated to Nashville, Tennessee, and started playing in bands.
In the vast majority of cases, all these securities are held in the name of your brokerâs nominee company. A nominee company is a custodian charged with the safekeeping of investorsâ securities. It should be a separate entity from the broker itself. Your investments are held for you â on trust â in a nominee account. This means that while the nominee is the legal owner of the securities, you retain actual ownership as the beneficiary.
The custodian is responsible for managing, overseeing and protecting any inheritance received by a minor child until the child reaches an appropriate age. If no age is provided in the will, the custodian can release the assets when the child turns 18, 21 or 25, depending on the jurisdiction. Some wills require the custodian to wait until the child is older or a specific event occurs, such as the child's college graduation.