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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 33762
Experience:  15 yrs estate law, real estate. Wills/Trusts/Probate
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If the heirs of an estate inherit shares in an Oklahoma corporation

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If the heirs of an estate inherit shares in an Oklahoma corporation and the shares are held by a trust do the shares need to be divided equally among the heirs in order to inherit those shares or can they remain in the trust?
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If the heirs of an estate inherit shares in an Oklahoma corporation and the shares are held by a trust do the shares need to be divided equally among the heirs in order to inherit those shares or can they remain in the trust?
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Yes, they have to actually be distributed. When assets are inside a trust and in the trust's name, the trust owns them. So if a will or trust directed that shares that were held in it were to be disbursed to the heirs of an estate, the trustee would have to actually transfer the shares from the ownership of the trust over to the individual heirs. They will have to contact the brokerage who is holding them in street name to contact the particular company's transfer agent to formalize the transfer and issue new stock certificates (unless a new brokerage is holding them for the heir).
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