Legal Question in Wills and Trusts in Canada
Liquidating assests
How does an executor go about liquidating things like stocks in the deceased's name? Is a special brokerage account needed or can the executor sell the stocks through their personal broker and distribute the money as per the will's instructions?
Asked on 1/19/04, 10:39 pm
1 Answer from Attorneys
Robert Maguire
Maguire & Company
Re: Liquidating assests
Go to your personal broker. He/she will be able to tell you what you need for the particular securities that you want to sell. There are several factors that affect the documentation and whether you need to have a grant of probate or not. Your broker's firm should have all the answers for you. The proceeds of sale should go through the estate bank account that you should have set up to assist you with your record-keeping and estate accounting.
Answered on 1/20/04, 1:14 am
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