The Living Trust Myth
Dear Len & Rosie,
In 1993 my late husband and I went to an attorney and requested a Family Trust be drawn up for our family. My husband and I owned stock in a large corporation, and in 1993 the stock was retitled in the name of my husband and I as trustees of our family trust.
A few weeks ago I called the corporation to change my address and notified them that my husband is deceased. I asked them to remove his name from the stock certificate. They said they would send me a form to fill out and have my signature "medallion guaranteed", and that I had to send the form, along with a certified copy of my husband's death certificate, back to them. They also said I had to send the stock registered mail, insured at two percent of the stock's value. My question is why? We had the trust drawn up to cover all of this.
Mary
In 1993 my late husband and I went to an attorney and requested a Family Trust be drawn up for our family. My husband and I owned stock in a large corporation, and in 1993 the stock was retitled in the name of my husband and I as trustees of our family trust.
A few weeks ago I called the corporation to change my address and notified them that my husband is deceased. I asked them to remove his name from the stock certificate. They said they would send me a form to fill out and have my signature "medallion guaranteed", and that I had to send the form, along with a certified copy of my husband's death certificate, back to them. They also said I had to send the stock registered mail, insured at two percent of the stock's value. My question is why? We had the trust drawn up to cover all of this.
Mary