Once you purchase shares of a stock, they are yours to do anything you want with. Can I transfer my stocks, you might ask. Absolutely. However, there are some steps you must follow in order to complete this process appropriately.
When Would I Transfer My Stocks?
Stocks are a big part of a person’s estate plan. Appropriately, when major life-changing events occur, it might require you to re-register your stocks. Whether you get married or are setting up a trust to benefit your children or grandchildren, the names on stocks can change. You may be transferring stocks to an outside party as a part of a deal, too.
How Do I Transfer My Stocks?
This process is relatively easy, and begins by obtaining a stock transfer form. Filling out this form gives the transfer agent the go-ahead to transfer the stock shares. You might also be asked to include a letter of instruction to go with the stock transfer form. You may additionally have to include the stock certificates with your signature on the back.
This form includes pertinent information such as:
– Number of shares
– Company that holds the stocks
– Date for the transfer
– Your personal information
This paperwork can be turned into the transfer agent to initiate the transfer. If this is information is being sent via the postal service, make sure to insure it.
Keep Copies Of The Paperwork
It is very important to document the transfer by saving copies to store as a part of your financial records. Make copies of everything that you send to the transfer agent.
Ready To Transfer Stocks?
While this is a process you can execute by yourself, it never hurts to do it under the watchful guide of a qualified stockbroker or transfer agent. There are numerous options in your local area alone and finding them might be a bit time consuming. Trust TalkLocal to assist you in your search. We can guarantee your search will be resolved in a matter of minutes.
