The Complete Guide to Selling Shares from a Deceased Estate

Selling your own shares is one thing, but what happens if you need to sell shares from the estate of a deceased family member or friend? Fortunately, there are special situation sales available to assist you in the process. In fact, with the right solutions, you won’t even need to provide any special documentation or extra paperwork, so long as you advise the company as to the situation. 

There are a variety of special circumstances that people run into when it comes to selling shares, with deceased estate sales being one of the most common things that companies deal with. All that you have to do is notify them that you are selling shares from someone else’s estate so that they can file the necessary paperwork to keep up with regulatory compliance. The work on your end is the same either way. 

So, how do you go about selling the shares, then? 

The first thing that you’ll need to do is find a document that proves ownership of the shares. This is usually going to be a dividend statement or a holding statement. Obviously, it’s not going to have your name on it, but it should have the name of the deceased to prove that they did own the shares when they were alive and that they are now the property of the estate. 

You will also need to provide your own identification, again for the regulatory compliance of the company buying your shares and issuing your cheque or deposit. A copy of the probate will or death certificate will also be needed for this special situation.

Once you’ve provided the necessary documents, you will be able to complete the online form that is used to process the share sale. The form will include the option of a standard service that may take longer but is less expensive, or a same-day or express sale, which will have a premium fee involved. Either way, you’re still going to spend less than you would on a private brokerage sale by selling your own shares online, so it will depend on just how much money you need and whether you’re willing to take the hit to get the money sooner. 

Everything Must Check Out

Keep in mind that a company isn’t just going to send money to anyone who says they’re owed it. They will review the documentation and confirm all the information, including confirming the ownership of the shares with the registry. Only then will they continue to the sale, selling the shares for the best market value available at the time. Once this happens, you will get confirmation and find out how much you are owed. 

Usually, this process is relatively quick online and takes only a matter of minutes. Due to processing, you’ll typically wait three days from the share sale date to get your funds deposited or mailed via cheque, depending on the method that you choose. Every company has their own guidelines, of course, so be sure to ask before you choose your payment method so that you know what to expect. 

In Summary

Dealing with an estate involves a lot of hassle. Fortunately, you won’t have to carry that hassle into the sale of deceased estate shares that you are holding. This process is simple and when you work with the right companies, you can guarantee that you will get top dollar for your share sale with a seamless, hassle-free transaction regardless of what your special circumstances are. Take advantage of that and turn your shares into cash now. 

Susan Paige