Legal Question in Wills and Trusts in California
PG& E Stocks
I recently came across 400 shares of PG&E stock my Grandmother owns. My Grandmother has been dead for several years. She used to live with my Aunt. PG&E would send my Grandmother every month checks between $125-$225.00. My Aunt never cashed these checks, she said that she liked to see Grandma get a check every month. To make a long story short.. I have two manila envelopes filled with these checks, and the original stock documents of 400 shares of PG&E. Grandma left no will, my Father has since died and he did leave a will. My Aunt had dementia and alzheimers and is in a nursing home. My mother is still alive..What can be done in this situation?
3 Answers from Attorneys
Re: PG& E Stocks
The transfer agent for PG&E stock can be contacted to supply you with the necessary transfer forms. However, you will need to render proof that you are entitled to receive the stock proceeds. It would be advisable to seek the assistance of an attorney. In order to best address the issues presented in your inquiry, our office would be happy to provide you with a free 30 minute telephone consultation. Please feel free to contact our office, toll free, at 1.877.MOHEBAN. Ask for Vandy Moheban, Esq. www.lmapc.com
Re: PG& E Stocks
Did your Grandmother live in CA? Just wondering as you did not indicate.
The easiest way to start this process would be to contact the stock transfer agent for PG&E and see what they require to cash out these shares of stock. The stock would be distributed to your Grandmother's next of kin based on the state in which she lived in.
If there is no small estate affidavit procedure or the stock is valued too high, the stock transfer agent may require you to open probate in the state where your Grandmother lived to transfer title to her next of kin.
I googled PG&E and found that their stock transfer agent is Mellon Investors, which can be found at https://www.melloninvestor.com/
I hope this helps. Please feel free to email me if you have additional questions.
Re: PG& E Stocks
These matters can be highly problematic for families. I just handled a very similar situation and was able to resolve it amicably. It is likely, in as far as the information that you have given that your Aunt may be the likely living heir, and your father most likely had a share as well.
My office would be happy to help you get this taken care of.
Please call at your earliest convenience. 619.866.3535
Joshua Hale
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