Legal Question in Wills and Trusts in New York

Stock certificates held by the
My Mother passed away in Jan of 1999.
She and my Sister were owners of 6200 shares of stock, worth Approx.$250,000
My sister wants to divide this 3 ways between my other sister and myself.
People are telling her to get a lawyer because of the tax consequences.
Other people are saying she and she alone will have to pay an inheritance tax.
All three of us have families with children and before my Mother's passing she
gave all of us and the children a 10,000 gift for 1998.
My question , Is my sister not now the sole owner of this stock ??
Can she not do with it what she pleases ?
If there are tax penalties can she not take care of this without the need of hiring a lawyer ?
All this is taking place in the bronx, N.Y., wher both my sisters live. I live in N.J.

Waiting your answer
Thank You

Asked on 10/22/99, 12:49 am

Daniel Clement Law Offices of Daniel Clement

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0 attorneys agreed

Re: Stock certificates held by the

I suggest you or your sister consult with an attorney since the question involves specific facts with real tax consequences.

Daniel Clement

Answered on 10/24/99, 1:27 pm

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