U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-29-2018, 03:26 PM
 
1,119 posts, read 815,589 times
Reputation: 2618

Advertisements

I recently inherited some stock, and have the final court papers. How do I get this stock changed over to my name? The issuers of the stock sent me a letter from what is evidently a third-party (Keane) who want a 20% fee to do this. This is not going to happen. Any tips on how to handle this?
Reply With Quote Quick reply to this message

 
Old 03-30-2018, 06:28 AM
 
17,603 posts, read 12,191,120 times
Reputation: 12816
Contact the transfer agent and they will tell you what paperwork is needed for them to do the name change
Reply With Quote Quick reply to this message
 
Old 03-30-2018, 03:28 PM
 
1,119 posts, read 815,589 times
Reputation: 2618
Quote:
Originally Posted by Lowexpectations View Post
Contact the transfer agent and they will tell you what paperwork is needed for them to do the name change

I appreciate the answer. This sounds like what I was looking for. I assume you mean the transfer agent for the company that issued the stock.
Reply With Quote Quick reply to this message
 
Old 03-30-2018, 03:45 PM
 
Location: 5,400 feet
2,197 posts, read 2,269,902 times
Reputation: 2840
If the stock is being held by a brokerage firm, like Schwab, Vanguard or Fidelity, you should contact them. Each firm will have their own process. They may be able to help you transfer a paper certificate if you are going to deposit it with them.
Reply With Quote Quick reply to this message
 
Old 04-01-2018, 11:21 PM
 
Location: Wonderland
40,861 posts, read 32,642,286 times
Reputation: 56969
Or you can just meet with your own financial advisor, who will tell you what paperwork is required to transfer the stock into your account(s), get him or her that paperwork (typically it will be the will and letters testamentary and a death certificate or something along those lines, or just the contact info for the stock/investment account(s) if you were named the beneficiary of the stocks by the deceased), and have your financial advisor contact the other firm and move it over.
Reply With Quote Quick reply to this message
 
Old 04-02-2018, 02:27 AM
 
Location: midvalley Oregon and Eastside seattle area
2,898 posts, read 1,341,778 times
Reputation: 2410
Fees are sometimes based on the number of shares, value of shares, or a flat fee. Your 20% fee has no meaning without greater context.

We let the State claim moms shares. The fraction of 1 share, <$10/share. Fee was $50

Last edited by leastprime; 04-02-2018 at 02:45 AM..
Reply With Quote Quick reply to this message
 
Old 04-02-2018, 03:21 AM
 
10,868 posts, read 41,128,193 times
Reputation: 14009
we've just been through this process two years ago and now this January.

Other than the time required to sign forms at our broker's office, it's been relatively easy and without any fees.

All we had to do was contact our broker and let them know which brokerage(s) or banks held the shares. Our broker inquired about the accounts and verified what shares were held in the accounts.

Then our broker filled out the forms to transfer the shares into our names, we signed ... and, in due course, the full value of the shares showed up in our portfolio at our broker. There were no fees to do this on any shares.

There was only one holding which was tied to a specific investment "advisor" firm which could not be transferred to our brokerage house, so we set up the monthly payments directly to our checking account from the original broker. (that is a $12,000 REIT kicking out $54/month, and we're signed up on their "buy-back" program where they will periodically buy back shares as funds allow; this REIT has bought back shares from a $100,000 position down to the $12,000 over the last several years.) But there's been no fees, no losses in making the transition from the original holders and our broker did all the paperwork at no charge for the process.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top