Legal Question in Wills and Trusts in Pennsylvania
Stock concern
My mother passed away in January 2001 leaving no will of which I am aware. She had GE stock worth around $3500 that is still at her brokers. How do I get the stock in my name? I have 1 brother which I have no contact with and do not know his place of residence. He used to live in florida years ago. Can you help me?
1 Answer from Attorneys
Re: Stock concern
As a legal heir of your deceased mother, you can apply to be the administrator of her estate to the Register of Wills in the county where she resided at the time of her death. As administrator, you would have obligations of seeing to payment of debts and obligations of your mother and her estate, including her final expenses, income and inheritance taxes.
If there is anything left over, you could distribute part to your self, and hold the other part for your brother. You would have to attempt to find him to give him notice of the opening of your mother's estate and also to get him to sign a release before you distribute whatever is left and is rightfully his.
If you have Letters of Administration, the brokerage firm should be able to transfer your mother's stocks into an "estate" account that you will administer.