Legal Question in Wills and Trusts in California

Re: transfer of stocks and bonds

What a mess! There is a small estate exception in almost every stat's probate code. However, it varies so widely I'd have to pull op the N. C. Probate Code and research it. That will determine if there has to be a probate of your sister's estate at this time. (Which should have been done when the kid was 10 or so.) However the issuer of the checks needs to be contacted about reissuing the checks and determining if they can be redeemed above their face value, see below. The checks are all probably now void. First will they reissue the checks and then if they will not did they escheat the money back to the state as their supposed to by the state law. If so then you'll have to contact the state to recover that money. There's a web site to contact all of the states and that web site connects you to N. C's web site to check on the money. If they'll reissue you the checks, then the checks would have doubled in value every 10 years at approximately 7% interest. An inquiry needs to be made to determine if the checks were rolled back for additional stock, or if they'll pay any interest on the money. Or the kid losses all the interest compounded. The situation, and how this kid has been screwed just makes me mad thinking about it.

Re: transfer of stocks and bonds

Where did the mother reside when she died, and where is the son, now. If the mother died while a resident of California, and there was never a probate, one can be opened now.

Chances are the company who issued the checks is still liable to pay the money, but this is going to take a conversation to really get the facts. Once all the facts are determined, getting the name changed on the stocks will be a relatively simple matter through the probate court.