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So, the answer to your question is that the stock options will become a part of the employee's estate. If those options have not yet vested, then it is possible that the person who is the beneficiary or beneficiaries of the estate may not receive anything. If any of those options have vested, then the beneficiary or beneficiaries will be able to collect the proceeds of them. One thing that the executor of the estate could do is become the fiduciary over of the stocks and sell them and distribute the proceeds.
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That's a great question. The executor would not be the company. Rather, the executor would be a) the person named in the will of the deceased or b) a person appointed by the court. If the person had a will, then they would need to go through the probate process in NY. All probate means is that the court will have to verify the validity of the will. If the employee did not have a will, then NY courts will still have to be involved in the process, but they would appoint an executor, usually a family member or trusted friend who will manage the estate proceeds properly. There's a lot of information, but if you click here, you can get started.
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