Legal Question in Wills and Trusts in Alabama
Cashing in stock from deceased parents
My father died 7 years ago. My mother gave me a box of things to keep at my house in case anything happened to her she wanted me to have. She has been dead now for over 2 years & I have just now opened the box & found some stock, but the stock is in both my mother & father's name. How can I cash in the stock (what forms do I need & can I cash it in without a lawyer because the stock is not worth very much)?
1 Answer from Attorneys
Re: Cashing in stock from deceased parents
A lot depends on whether your father and mother had a will and whether or not they have any other children together, or by another marriage, etc. Assuming you are an only child, the company will want you to show them how you are the true owner of the stock at this time. This will require your parent's death certificates. They will probably want letters testamentary or letters of administration from the probate court. Sometimes, it is a very complicated process. Your best bet is to call the company and ask them what they need for you to be able to either transfer the stock or sell it. You will then probably need to go to your probate court (clerk's office) for further assistance. If you have any other questions, please do not hesitate to give me a call (205) 254-3927
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