Which is more legally binding – a Will or equal shares of stock?

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Which is more legally binding – a Will or equal shares of stock?

M husband left equal shares of stock for me and his 3 adult children. The Will states the income from the producing property is to be paid to me during my lifetime. The adult children say they can sell the property because we had equal shares. The stocks were issued before our marriage and the Will was made after the marriage.

Asked on March 12, 2012 under Estate Planning, California

Answers:

Steven Fromm / Steven J Fromm & Associates, P.C.

Answered 10 years ago | Contributor

Your facts are not clear. I am just guessing but if the shares control a company that has an income producing property, they as majority owners do have the right to sell the property. However, the proceeds would then have to be used to pay you an income during your liftime if that is what is required. You really need to retain estate counsel to protect your interests here and to ascertain what your right are under the will and via your stock ownership.

 

Hong Shen / Roberts Law Group

Answered 10 years ago | Contributor

It is not clear to me what you meant. What is the producing property? Is it a house? What are the children wanting to sell? The house or the stocks? It will depend on how the title was written, etc. If you and the children are joint owners of the house, it will take precedent of the will.


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