QUESTION
How should I handle the stock certificates Mom owned when she died?
Asked on Jul 10th, 2013 on Estate Planning - Iowa
More details to this question:
Mom left 198 shares of stock. Do I have to transfer the stock to her estate account before I sell it, or can I sell it and then transfer the money into her estate account? I am the executor of her estate.
1 ANSWER
3 Awards
there are usually several options with stock and the company holding the shares can educate you on them. you can liquidate them and deposit the proceeds into the estate account. You can transfer them into the names of the heirs also. The compay will have different forms they will send to you for whatever option you choose. Along with the completed form they require a death certificate, a short certificate and sometimes a medallion signature from your bank.
Answered on Jul 11th, 2013 at 12:01 AM
William R. Pelger, Attorney Munhall, Pennsylvania 412-461-1900