How to sell inherited stock certificates

Posted: seo-minsk Date: 22.07.2017

The procedure for transferring ownership of stocks after someone passes away depends on how the deceased chose to hold the shares. An account beneficiary may be able to carry out the change of ownership on her own.

When the stock must go through probate, the responsibility for transferring ownership of the shares falls to the executor of the estate. Transfer agents are firms that handle securities transactions on behalf of corporations. No transfer of ownership is necessary when shares are held in a joint account with right of survivorship.

how to sell inherited stock certificates

Single-owner brokerage accounts normally have a named beneficiary who can conduct the change of ownership. This is also true when an account with a transfer agent has a beneficiary. If the original owner did not specify a beneficiary for a transfer agent account or if the shares are held as stock certificates, the stock must go through probate.

How can I sell private company stock?

When an account containing stocks has a named beneficiary, the shares do not have to be probated. If you are the beneficiary, you need to contact the account provider and furnish proof of death. Typically, this means a certified copy of the death certificate.

How to Sell the Stock Certificates of Deceased Persons | Finance - Zacks

Be prepared to show a valid photo ID issued by a government agency. The account provider will process the ownership change and credit the shares to an account in your name. When stocks must be probated, the probate court first reviews the will or documents left by the deceased owner and determines who inherits the shares.

To transfer stocks, the executor also needs a copy of the will or a letter from the probate court stating the name of person who is entitled to receive the shares.

These documents will be sent to the transfer agent. The executor contacts the transfer agent to obtain a transfer of ownership form, plus any additional documents required. Some transfer agents provide forms online as downloadable files.

how to sell inherited stock certificates

The executor takes the form to a bank or other financial institution that can provide a Medallion Signature Guarantee. The transfer of ownership form, accompanying documents and any stock certificates are sent to the transfer agent. Based in Atlanta, Georgia, W D Adkins has been writing professionally euro pound exchange rate buy sell He writes about business, personal finance and careers.

Adkins holds master's degrees in history stock options basics indian market sociology from Georgia State University.

He became a member of the Society of Professional Journalists in Each week, Zack's e-newsletter will address topics such as retirement, savings, loans, mortgages, tax and investment strategies, and more. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors.

This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. These returns cover a period from and were examined and attested by Baker Tilly, an independent accounting firm. Visit performance for information about the performance numbers displayed above. Skip to main content. Transfer by Beneficiary When an account containing stocks how to sell inherited stock certificates a named beneficiary, the shares do forex easy hedge have to be probated.

Probate Procedure When stocks must be probated, the probate court first reviews the will or documents left by the deceased owner and determines who inherits the shares. Transfer by Executor The executor contacts the transfer agent to obtain a transfer of ownership form, plus any additional documents required.

Old Stock Certificates: Lost Treasure Or Wallpaper?

References 3 New York City Bar: What Is an Executor? Deceased Stockholder -- Single Account Charles Schwab: Schwab Designated Beneficiary Plan Application. About the Author Based in Atlanta, Georgia, W D Adkins has been writing professionally since Recommended Articles When Does Inherited Stock Become Taxable? How to Transfer Assets With a Revocable Trust After Death How to Transfer Funds From Inherited Stock How to Value Stock for an Estate. Related Articles How to Endorse Stock Certificates How to Transfer Stock to an FLP What Happens to Stocks If a Deceased Person Doesn't List the Beneficiary?

Can an Executor Sell Stocks Without Changing the Names on the Account?

how to sell inherited stock certificates

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