Advisors’ influence on family unity is growing
When a family member dies all property is deemed sold at fair market value. But what if that includes stock certificates from failed companies?
Despite the best planning and practices, sometimes you end up stuck with worthless stock shares. Still, there is a way to use them.
When a client dies, any property he owned is automatically deemed sold at fair market value, which could lead to capital gains or losses. But what if that property includes stock certificates from companies that no longer exist?
What do you do if a deceased relative's assets includes worthless stock certificates?