newbie2010
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 29 Jul 2010
Location: Madison WI
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| STOCK SALES AND BROKERS |
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I'm handling my mother's estate and have discovered there is a substantial # of stock in one company that we've always thought were a part of the family trust. When they (both parents) formed the family trust, they gave 2500 shares of this particular stock to the broker based on the original stock certificate #s, but it looks as if that stock had split a year or two earlier.
When this kind of sale is done, wouldn't the additional shares that came from the split have transfered to the trust and broker at the same time, or is it all a matter of how many shares the broker claims in his paperwork? For example, is it possible that the split or left-over shares actually stayed in my mother's name and that would explain why she was getting one statement from the broker and another monthly statement from the stock company?
Also, I remember Mom telling the broker that he was never to touch this particular stock in their portfolio (Southern), which seems to bear out in the broker's monthly report - he started with 3164 shares of Southern and his last statement shows 3164 shares. The only thing that changed in his report was the value/price per share. But... there was a gain of shares in the Southern report through dividend reinvestment.
It wasn't until now that I've been able to go through her files and find the Southern statements. I went on-line and verified that she does hold the shares, I just can't figure out how this would have happened.
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