Legal Question in Wills and Trusts in Georgia

Estate / Stocks

My mother and I owned shares of stock jointly. She passed away and they transferred to me. We couldn't find all the certificates, so I asked them what the proper procedure was for replacing them. They sent me forms to fill out and return. Then, they informed me there would be no hard copies, just in their pc.

Question#1: As mother's executor, should I have put the stocks in her estate name, or leave them in my name, since they transferred to me on her death?

Question #2: Shouldnt I have something showing what I have now in the certificates?


Asked on 7/07/09, 11:02 am

1 Answer from Attorneys
Harold Holcombe Harold D. Holcombe, P.C.

Re: Estate / Stocks

Sounds like you are not sure of what you're doing. If the stocks were jointly owned they are not probate property and should not be included in the inventory. Even if the will says that you don't have to file an inventory, your first job as an executor should be to do an inventory and secure all the assets. Then, you have to determine what are probate and non-probate assets. To do this properly there may be some points of law to deal with. Consult an attorney. As an executor, you have a fiduciary duty to the beneficiaries and could be in trouble if you don't do your job right.

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Answered on 7/07/09, 11:39 am


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