Can I transfer stocks from deceased person (with debt) to me (her daughter) without creditors taking it?

by Mary
(Chandler, AZ)

My mother passed away and was in possesion of stocks she was awarded as part of a wrongful death suit. The stockes are from Sun Healthcare Group (SUNH) and Sabra Health Care (SBRA).

It is not a large amount of stocks but is something I'd like to transfer to my name if possible. Quarterly dividend checks are sent to my house, but we cannot cash them because they are not in our name.

It is our understanding that my mother had debt at the time of her passing.

Is there a way to transfer these stocks into my name or sell the stocks and collect the money from the sale?




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Jun 09, 2012
 Can I transfer stocks from deceased person (with debt) to me (her daughter) without creditors taking it?
by: Debtcollectionanswers

You may or may not have the right to do anything with the stocks. First, you need to find out where the stocks are held -- with Ameriprise, Charles Schwab, or someone else. Also, you need to know who is the beneficiary of those stocks. When you mother set up her account to hold the stocks with Ameriprise, Charles, Schwab, etc., she would have had to name an account beneficiary -- the person/s who is entitled to the stocks when she dies. If you do not have the account paperwork, which would indicate who the beneficiary is, the checks your mother is receiving should tell you who is sending the checks and that company can tell you who is the beneficiary on the account.

However, it's not going to share that information with just anyone. The person your mother designated as her financial agent when she prepared a durable power of attorney for her finances is that individual who can get that information. If your mother never prepared a durable power of attorney for her finances, schedule a meeting with an estate planning attorney in your area to find out how to proceed.

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