UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Answer Team Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 4432  
Subject: TOD small holding to multiple heirs Date: 1/20/2014 11:08 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 3
Visualize the individual who owns 100 shares of an $18 stock and TODs it to 6 heirs. Each heir inherits $300 worth of stock at a full service broker, and now they begin to discover what the broker will charge them to sell their shares or transfer them to another account or issue certificates.

This seems to be the situation behind the following thread--


I don't know any details but infer the details above.

The broker has apparently offered to handle this for each of the heirs for 10% of the value, or $30. That sounds like a generous offer considering what most full service brokers charge.

For the heirs who have existing accounts at discount brokers, transferring shares to the discount broker account could be best. But setting up a new account for a $300 balance could be a challenge.

I think this is instructive for Estate Planners. Sometimes good intentions can be costly resulting in much reduced benefit to the heirs.

Or it could be best to sell the shares in the joint partnership account and then split the cash.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next


Foolanthropy 2015!
Fistula Foundation: A World of Good!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.