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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 8667
Experience:  30 years of corporate, litigation and international law
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I would like to know how to obtain a transfer of stock information.

Customer Question

I would like to know how to obtain a transfer of stock information.
My astranged sister took stocks from my deceased Mother and I would like
to know their worth.
Submitted: 4 years ago.
Category: Business Law
Expert:  Richard - Bizlaw replied 4 years ago.

If you know the names of the stock, and they are publically traded, you can look up the closing prices on the day before or day of your mother's death in the NY Times, Wall Street Journal or some similar paper and get the closing prices on those days.

 

Unless the stock was in joint name with your sister, no transfer should have occurred without letters testamentary being issued to the executor of your mother's will by the probate court. The will would have to be filed and is a public record.

 

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

Customer: replied 4 years ago.

I am not sure of the name of the stocks and my Mother transferred them before her

death. They were not included in the will, should they have been part of the will?

Is there a subpoena I can file to request a copy of the stock transfer?

Expert:  Richard - Bizlaw replied 4 years ago.

If your mother transferred them before her death then you get into some complications. If she sold them to a third party, for fair payment, then they are gone and should not be in the will. If they were transferred to a beneficiary then you have questions as to whether there was the intent to make a gift or whether there was undue influence.

 

Without knowing the name of the stocks or how long before her death they were transferred it will be difficult to locate them. If she had the stocks in a brokerage account, you can check the account statements which will reflect when they were sold and for what price. The will not show to whom they were transferred.

 

In order to get a subpoena you will have to have started a case of some kind against someone. Court's don't just issue subpoenas.

 

Start with trying to locate the brokerage statements as that may provide you with the information you need.

 

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

Customer: replied 4 years ago.

They were transferred to my sister prior to my mother's death, should the transfer have been in the will?

She refuses to disclose what the stocks were and their worth, I believe my mother was under undue influence. What would I need to file with the courts to retrieve the stock information?

 

I have no brokerage statements, how would I obtain those?

Expert:  Richard - Bizlaw replied 4 years ago.

I am making the following assumptions in the response to the inquiry. First that your mother died within the last three years. Second that your sister or someone has been appointed executor of her estate and the estate has not been closed and finalized. Third you are a beneficiary of your mother's residuary estate (this means you did not get a specified bequest such as a sum of money or property only but you got a portion of all the remaining assets in her estate). If the estate is still open, you could make a motion in the probate to have the executor determine and account for any transfers of stock or other property to any of the estate beneficiaries.

 

To do this effectively I suggest you retain an attorney as this is not readily done on your own.

 

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

Customer: replied 4 years ago.

My mother has been dead for 11 years and she died before my father. Her estate or will was passed to my fathers Will when he passed away 2 years later.

Nothing was settled when she passed away as my father was still alive.

The property my Mother and Father had has been settled in the Estate and monies

probate and his Estate or will closed.

Could I file the motion in the probate to have the executor determine and account for any transfers of stock like you stated? My Mother had no will of her own does that

mean it is still open?

Expert:  Richard - Bizlaw replied 4 years ago.

Unfortunately it is much too late to question a stock transfer made prior to her death 11 years ago. All the applicable statutes of limitation have passed. Further, since the transfer was made when your father was still alive, it will be presumed that it was made with his knowledge and consent and thus, there is little chance that a claim of undue influence would have been sustained even if had been brought. I suggest you forget the issue and move on as there is nothing that you can do about it at this late date.

 

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

Customer: replied 4 years ago.

What statue of limitations would you be referring to?

The stocks were only in my Mothers name

Expert:  Richard - Bizlaw replied 4 years ago.

There is a two year statute of limitations for fraud which is essentially what you are claiming. YOur mother voluntarily made a gift or sale of stock. The only basis on which you can challenge such a transfer is that she was not competent and defrauded by the transfer.

 

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

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