Estate Planning Attorney Advice: How to Leave Stocks in a Will

There are many considerations you have to make when creating a will. If you have a lot of assets and property to divide up, it’s easy to get lost trying to organize all of it. One consideration is leaving any stock holdings you have in your will. Leaving stocks isn’t difficult, but it is important to know how to do it. Today in the Davidson Law Group blog, an estate attorney describes the process for leaving a stock portfolio in your will.

What Happens if I Don’t Name Beneficiaries?

First, let’s talk about what would happen if you didn’t name any beneficiaries for your stocks. You may think that they would automatically go to a spouse, or to kids if you’re unmarried, but it’s not always that simple. If you don’t name beneficiaries, you’re leaving the decision of where your stocks go to the state. The state will divvy them up between your relatives as they see fair. If you’re wanting to leave them to specific people, then this is not the way to go. In general, our estate attorneys don’t recommend leaving this kind of things up to the state when you can easily take care of them yourself.

The Recommended Course of Action

The easiest and recommended course of action from our estate attorneys is to simply name a beneficiary with a pay on death designation. This will automatically transfer your stocks to the person named upon your death. This is the easiest way to do it because the stocks won’t have to go through the process of probate.

Other Options

Of course, the easiest option isn’t the only option. In some cases, it may not be the best option either. For instance, if you plan on dividing the stocks up among beneficiaries, it may be best to outline the terms in your will. Although this may slow down the transfer process a bit, it will make sure your assets are divided up exactly how you want them to be. You can leave 100 shares of a stock to one person, 1000 shares to another, and so on. If you have a diverse portfolio and many beneficiaries to spread it around to, having an estate attorney help you create a detailed plan will be your best course of action.

Contact at Estate Attorney at Davidson Law Group

If you’re ready to create a will, it’s time to hire an estate attorney. An estate attorney makes sure your will is written in a way that it will be executed exactly how you want it to. When choosing an estate planning attorney, you want someone with experience and who will hold your best interests in mind. If that sounds like the type of attorney you want, then choose Davidson Law Group. For more information, or to schedule an appointment, contact us today.