California Probate: How Are Securities Transferred to Heirs or Beneficiaries?

How are Securities Transferred?

In a decedent’s estate of securities transferred, the personal representative will often find stocks, bonds, or mutual fund shares that will need to be transferred to new owners.

Moreover, the transfer of bonds, debentures, and stocks are made by a transfer agent. However, the mutual fund shares are transferred by the fund management company.

What are Transfer Agent’s for?

  • The transfer agent’s name is usually printed on the securities certificates. It is a way to verify the name and address of the transfer agent.
  • The transfer agent will let you know what documentation is required in order to transfer the title of securities. This may involve a large amount of work to handle for yourself. For that reason a stock brokerage firm or bank with experience can help you.
  • For mutual fund shares, you can probably find the name, address, and contact data of the fund manager on the monthly statements or the mutual fund management company’s website.
  • The manager will inform you how to proceed to sell, redeem, or change the ownership of the shares.
  • If the process is handled through probate, you will need a probate court order to transfer the securities. Other documents will be required depending on the way the securities were owned between the beneficiary.
  • Securities held in concurrent ownership may lead to a complex transfer process, for which in this situation an experienced California probate lawyer will probably be helpful.

Talk to San Diego probate attorney Scott Grossman about your situation and any questions you might have. Call us at (951) 683-3704 for your FREE 30-minute telephone consultation. Also, order our FREE lawyer book The Insider’s Guide to California Probate and Trust Administration.

 
Scott Grossman

Scott Grossman

Attorney

The Grossman Law Firm, APC · 525 B Street, Suite 1500, San Diego, CA 92101 · (951) 523-8307
 

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