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    LinnieD1984's Avatar
    LinnieD1984 Posts: 2, Reputation: 1
    New Member
     
    #1

    Jun 29, 2005, 02:30 AM
    Stock in Deceased Father's Name
    I recently found some stock certificates in my deceased father's name. He passed away about 10 years ago. The certificates are for 40,000 shares of Combined Penny Stock Fund, Inc. I found out that Combined Penny Stock Fund Inc. recently liquidated for $.01 per share. (Giving these stock certificates a grand total of $400.) What sort of process would I have to go through to cash these certificates myself?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,834, Reputation: 846
    Senior Tax Expert
     
    #2

    Jun 30, 2005, 12:35 PM
    LinnieD1984:

    Call a stock broker to see if they can sell the stock for you. Technically, the stock belongs to your father's estate, but if you were the executor, you have the legal right to dispose of the property.

    With luck, the brokerage fees will not exceed $50, so you will get about $350.
    LinnieD1984's Avatar
    LinnieD1984 Posts: 2, Reputation: 1
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    #3

    Jul 1, 2005, 11:41 AM
    What if there was no executor of the estate? There was no will and no estate to administrate.

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