My kids have an account with Computershare. They have shares of three companies in the account, with dividends re-invested. I set this up for them a long time ago, before online brokers like etrade or ameritrade were offering dividend re-investments. All three names are on the account. Up until last week, they were Joint Tenants with Rights of Survivorship (JTWROS).. They just did a minor address change. However, Computershare now has it as JT TEN. No one requested that change. Is this a problem?
All three names are on the account. Up until last week, they were Joint Tenants with Rights of Survivorship (JTWROS)..They just did a minor address change. However, Computershare now has it as JT TEN. No one requested that change.Is this a problem - blacktreechaser-----------------------------------------------Yes. If Compushare has made such a change without your authorization or providing any sort of explantion, that is a BIG problem.That aside, this short article does a pretty good job of comparing the two types of ownership.https://estate.findlaw.com/planning-an-estate/whats-the-diff...What's the Difference Between Joint Tenants with Survivorship and Tenants in Common?When two or more people own property like a home, either as joint tenants or tenants in common, each individual owns a share (or interest) of the entire property. This means that specific areas of the property are not owned by any one individual, but rather shared as a whole. While joint tenants with survivorship are similar to tenants in common in many ways, particularly the right of possession with respect to the property, there are some important differences with respect to what happens when a co-owner dies.This article covers the basic differences between joint tenants and tenants in common, and how survivorship is treated by each type of tenant classification. See FindLaw's Probate section, including Avoiding the Probate Process, to learn more.... more at link
I finally called Computershare a few weeks ago.....yes, I do procrastinate...and asked them to change the registration back to JTWROS.As I understand it, some states consider these registrations to be the same...but not all. Since the three names on the account live in three different states (NY, WA, and NC), I wanted to get it changed back.They just called this morning, and said they were not going to make the change because there is no difference in the registration.So I just called investor relations at microsoft and left them a message that I was pissed off...and can Computershare make this registration change with no ones consent? Hopefully this will get squared away quickly. I'll also contact the folks that have the website that Mike posted the link to.Any other words of wisdom? I would imagine I'm not the only one affected by this..(unless I'm the only person still in a company's drip program.
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