Medallion Signature Guarantee: What To Do After Loss?

If someone who has ownership of stock passes away, they may have made provisions beforehand. If their spouse has joint stocks, then the spouse will generally become the complete owner. However if they had individual stocks in their own name, then the process changes. If the deceased has stocks but doesn’t have a will with a beneficiary, then there will be probate processing, which will address their estate. The court will choose who receives the shares and then ask the executor to pass over the ownership. They will organise the correct documents, so that they can be given to the transfer agent, who deals with the issuer of the finances and securities. Documents needed are a testamentary letter, or a trust instrument, a verified death certificate copy, a copy of the executor’s driving licence and a copy of the transfer instruction documents. The transfer agent will correlate and finish the passing over of ownership. A medallion signature guarantee will be needed to confirm the signature of the executor. Call us or email for all US stock transfers.