As the administrator of my fathers estate, am I required by law to list a stock certificate that is a privately held company as an asset?
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As the administrator of my fathers estate, am I required by law to list a stock certificate that is a privately held company as an asset?
My father died almost 10 years ago intestate. We just discovered the stock and want to have it transferred into the children’s names.
Asked on December 5, 2011 under Estate Planning, Vermont
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Yes, if you were the representative of your father's estate where he passed away 10 years ago without a Will, you might need to reopen the estate for this stock certificate to be distributed to the beneficiaries via a court order.
Before you do so, I suggest that you do a little bit of research to determine first if the stock in the privately held company has any value. If the privately held company is no longer in existence and has no value, then it makes no economic sense to re-open the administration of your father's estate.
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