What should I do with old stock certificates that were given to me by a friend who has passed?
Full Question:
What should I do with old stock certificates that were given to me by a friend who has passed?
04/14/2009 |
Category: Wills and Estates |
State: California |
#16007
Answer:
You may retain the certificate or have it held in street name by an entity or brokerage.I suggest contacting the transfer agent for the company regarding their procedure for registering the stock in your name. A transfer agent is a person or firm who assists in securities transactions. The transfer agent keeps a record of the name of each registered shareholder, the address and the number of shares they own. The transfer agent also makes sure that certificates presented to his office for transfer are properly canceled and new certificates are issued in the name of the new owner.
Transfer agents may handle the following matters, among others, on behalf of shareholders:
Change in certificate registration
Dividend Reinvestment Service
Change of mailing address
Lost or stolen certificates
Replacement of dividend checks
Direct deposit of dividends
Consolidation of multiple accounts
Elimination of duplicate report mailings
Replacement of Form 1099-DIV
