Rochester, NY asked in Estate Planning and Probate for New York

Q: TOD stock account. Who has the authority to liquidate the stocks in the account once the owner is deceased?

No estate account and no executor has been appointed

Related Topics:
2 Lawyer Answers
Benjamin Z. Katz
Benjamin Z. Katz
PREMIUM
Answered
  • Estate Planning Lawyer
  • New York, NY
  • Licensed in New York

A: The account must have a named beneficiary. Upon death of the owner, it is supposed to be transferred to the beneficiary.

Michael David Siegel
Michael David Siegel
Answered
  • Probate Lawyer
  • New York, NY
  • Licensed in New York

A: The account beneficiary. That person must present a death certificate.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.