Stock Certificates
My husband passed away and left stock certificates (in a trust with his sister) to be cashed in. Who could I hire to do this task, an accountant, a lawyer? I asked a few financial planners and they refused to do it.
Thank you!
Terry Says
Well, if you don’t deposit the shares in a brokerage account, no one will offer to help. And that’s tough to do after a death, because the account would have to be opened in the name of the estate of the deceased, and you would need proof that you were the executor. I’m not sure where the sister comes in, whether she is still alive, but that will complicate matters even farther!
First step is to take the certificate and turn it over. You will see the name of a bank “transfer agent”. YOu can search that transfer agent online, and contact them. Give them the certificate number and the amount of shares. Find out what the stock is worth today. The companies may have merged or gone bankrupt, so the transfer agent is the place to start.
There is also a company that will do this research for you — for a fee of about $35-$45 per company. OldStockResearch.com specializes in this kind of search.
Start making a list of the shares and the potential value. Then you’ll have to go through the process of opening a brokerage account for the estate, perhaps through Charles Schwab, in order to sell the shares.
