Most states have passed legislation requiring stock owners to name a beneficiary to receive the shares if the owner dies. Transfer on death (TOD) registration permits beneficiaries to receive shares without having to go through probate. Each firm that issues stock in the market is given a transfer agent. The transfer agent’s role is to collect all beneficiary information and ensure that the deceased’s stock is transferred to the right party.
Obtain copies of the dead person’s death certificate.
Contact the firm that issued the stock’s transfer agent. To find the transfer agent, use an Internet service like TAdirectory.com or contact the deceased’s broker and ask for the transfer agent’s contact information.
Inform the transfer agency that you are the beneficiary of the stock shares of a deceased person. Request a form for re-registration. The transfer agent will send you a paperwork that you must fill out in order to re-register the stock in your name. The transfer agent will also notify you of any additional paperwork required to finalise the transfer, such as Form W-9 (tax certification form) and an inheritance tax waiver form. Check your mutual fund financial statements here.
Fill out all forms and return them to the transfer agent. The transfer agent handles all stock ownership changes and processes your information.
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