Skip to Content

We are a Veteran Owned Business, providing 20% discounts for Veterans, First Responders, Elementary and High School teachers. Please contact us to set up a phone or Zoom meeting. Taking care of you and your family, It's What We Do!

Klenk Law

How do I sell a deceased relative’s stock?

Posted on Mon Jul 13, 2015, on Probate and Estate Administration

From our “Ask a Question” Mailbag: Selling Stocks Owned by Decedent in Chester County

Most Recently Updated July 15, 2018.

“My grandmother died in Chester County without any real assets, except for a small bank account and some solely owned stock. Her will says her assets are to pay her last bills and anything left is divided among the grandchildren. We’re confused as to how to sell the stock. Do we have to sell it through Computershare or can we sell it through any brokerage?”

Selling Stocks Owned by Decedent in Chester County

Selling Stocks Owned by Decedent in Chester County

During her lifetime, the stock and bank account could only be accessed or liquidated by your grandmother. Now that she is dead, the accounts will sit until an authorized person contacts the bank and brokerage.

The Executor’s Duty

Since your grandmother died with a will, it likely names an executor. That person needs to take the will to the Chester County Register of Wills along with the death certificate, legal identification and a checkbook. The Register will examine the will and death certificate and verify they are authentic and properly executed. The named executor will also have to prove they are the person named with a valid ID.

Once confirmed, and after you have paid a fee (with the checkbook/or a credit card), the Register will take the Will and exchange it for paperwork that authorizes the executor to act for the Estate. That paperwork goes to the bank and the brokerage house. They, in turn, will now liquidate the stock if the executor makes that request.

There is a lot of responsibility in being an executor, including filing the Pennsylvania Inheritance Tax Return and paying creditors. You would be well advised to retain an experienced Probate Attorney to help you. Remember, the executor is personally responsible for money not applied correctly, so don’t pay any bills or distribute any assets until you know exactly what you are doing.

More Probate Questions?

Liquidating assets to pay debts is only part of the overall probate process. By all means, if you wish to learn more, please read my more detailed article, The Probate Process All You Need to Know.

In Conclusion: Selling Stocks Owned by Decedent in Chester County

I hope that this article was helpful in explaining how to sell stocks. Further, I included links to even more detailed information on my website. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!

Let our Probate Lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced Probate Attorneys.  By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!

Wills, Trusts, Probate, and Estate Litigation, It’s All We Do

Tags:

Chester County, Pennsylvania, Probate, Probate Attorney, Probate Lawyer

What Our clients are saying

Klenk Law Logo
Stars

I saw four lawyers and was told by all of them; I should just forget contesting my mother's will. I knew what happened, but it is very hard to prove undue influence. I contacted the Law Offices of Peter L. Klenk & Associates. Attorney Amanda DiChello took my case. They were very honest and upfront about what would be involved trying to prove what I knew was true. Attorney DiChello may be young but she is extremely knowledgeable and skilled. She listened and understood what I conveyed to her. She knew exactly what information to use and crafted an outstanding interrogatory and many powerful depositions. Attorney DiChello understood the various emotional feelings this case created for my family and me; she was always there for us with a kind and encouraging word. We went to trial. The amount of work which she and her Paralegal did for the trial was incredible. They both knew my case inside and out! Attorney DiChello's powerful interrogative and thinking skills produced a positive outcome. Attorney DiChello did what other seasoned lawyers said was impossible!

Klenk Law Logo
Stars

Peter provided outstanding advice and preparation of a will and trusts.

Klenk Law Logo
Stars

Everything about my experience was a 10+! Peter and his staff made what I thought would be a difficult process easy and understandable. Every detail was handled correctly. No other firm could possibly do better than Klenk Law!

Klenk Law Logo
Stars

Professional, cheerful, thorough and fast. Peter responded to my request for a consultation right away, and within just a few days my last will and living will were done. Rates are standard.

Klenk Law Logo
Stars

Tremendous firm with bright, kind and tenacious people. Great representation for our family.

Let us put our expertise to work for you.

Free consultation within 24 hours.