Showing posts with label death. Show all posts
Showing posts with label death. Show all posts
Monday, August 17, 2015
How to Re
Gather your information. You will need the original stock certificate, complete name, address and taxpayer ID (social security number) of the new owner, stock power and a W-9 form. In some cases, such as a transfer due to death, you will be required to show more documentation.
Locate a transfer agent. Try to find an agent in the state of the person you are transferring ownership from. See Resources below for a way to find an agent in your state as well as a database of current transfer agents for publicly traded companies.
Call or set up a meeting with the transfer agent. Be sure to have all the information from Step 1 available.
Take old certificates to the transfer agent and ask them to re-register in the name of the new owner.
Send the stock certificates to the designated custodian. This step may not be necessary in some cases. In general, it will take two to four weeks to transfer ownership. Your agent or broker should help to determine what address the reissued certificates should be mailed to.
Sunday, August 16, 2015
How to Sell the Stock Certificates of Deceased Persons
Determine whether you have legally inherited the stock certificates. If the stock certificates were granted to you by will, you will have to wait for the probate court to process the will. The probate process may take several months to more than a year. If the stock certificates were granted via a trust, the trustee of the trust will send the certificates to you, usually fairly soon after the death. Just as with probate, if the certificates pass to you by intestate succession, it will take many months or years to receive the certificates.
Review the stock certificates to determine if they need to be re-titled in your name. If the certificates contain language requiring re-titling, follow the instructions on the certificate. This often involves sending the certificate to the company with a copy of the estate document transferring the stock.
Contact a stockbroker or brokerage company to sell the stock. Make sure the certificates can be sold and that there is a market for the stock. Stock certificates in the electronic age are uncommon, and certificates are often only used for private and small companies. This sort of stock is often difficult to sell. Send the stock certificates to the stockbroker or company. If the certificates were not re-titled in your name, also transmit the estate document that transferred the stock to you.
Instruct the broker to sell your stock. The stock will usually be converted to electronic shares and sold the next trading day on the stock market.
Labels:
death,
determine,
follow,
instructions,
intestate,
pass,
receive,
Review,
succession,
years
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