How to transfer a decadents stocks?
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How to transfer a decadents stocks?
My dad passed away last August with no will, how do we go about transferring the
stocks when there is no beneficiary or executor for a will that does not exist?
Asked on March 1, 2017 under Estate Planning, Washington
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
When someone dies without a Will, they are said to have died "intestate". This means that the intestacy laws of the state in which your father was domiciled as of his death will control how his estate will be administered and ultimately distributed. At this point, a family member can make application to the county probate court to be appointed "personal representative" of the estate (this is like an executor in cases where there is no Will). Then, the stocks can be transferred after all debts and other adminisatative matters of the estate have been performed. However, if all you father had was the stock, then depending on its value, you may be able to bypass a formal probate or any probate proceeding at all. Here is a link to a site that will explain further: http://www.wa-probate.com/Instructions/Is-Probate-Necessary.htm
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