What Happens to My Stocks If I Pass Away Without a Will?
Creating a will or trust is a good idea and can help ensure your assets pass to those you wish to benefit. If you don’t have one, you may have to pay estate taxes if your property exceeds a certain size.
Ways to avoid the hassles of inheritance
The same goes for stocks, but there are ways to avoid the hassles of inheritance. In addition to the obvious, you might also want to think about setting up a transfer on death (TOD) designation, which can help ensure your assets go to the right people.
Power of Attorney
A stock power of attorney can be used to transfer ownership of stocks and other financial instruments to designated recipients. Depending on the type of asset you have, you could also be eligible for a state inheritance tax waiver.
Seek a professional
The best way to go about deciding which investments to inherit is to get a second opinion from a reputable professional. A competent financial advisor will be able to help you plan out a sound investment strategy that will maximize your wealth while minimizing your tax liabilities.
When it comes to transferring brokerage accounts, it’s not always as easy as it sounds. You should understand what to expect from your firm and know what questions to ask before you make the move. You should also consider your personal and financial goals before you sell.
If you don’t have a will, you are deemed intestate, which means your property is frozen and you won’t be able to trace it. However, you can still leave a charitable contribution to a worthy cause.
Free consultation from one of the best Law Firms
If you have questions, you can get a free consultation with the Best Probate Lawyers.
Parklin Law – Probate Lawyer
5772 W 8030 S, # N206
West Jordan UT 84081
(801) 618-0699
Parklin Law Official Website
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Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.
When you need a Lawyer, contact this law firm:
Parklin Law
Draper, Utah
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Draper, Utah
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Draper Historic Park
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Location in Salt Lake County and the state of Utah.
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| Coordinates: 40°30′53″N 111°52′23″WCoordinates: 40°30′53″N 111°52′23″W | |
| Country | United States |
| State | Utah |
| Counties | Salt Lake, Utah |
| Settled | 1849 |
| Incorporated | 1978[1] |
| Founded by | Ebenezer Brown and his wife Phebe DRAPER Palmer Brown |
| Named for | William Draper, Jr. |
| Government
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| • Mayor | Troy K. Walker |
| Area | |
| • Total | 29.96 sq mi (77.61 km2) |
| • Land | 29.95 sq mi (77.57 km2) |
| • Water | 0.01 sq mi (0.04 km2) |
| Elevation
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4,505 ft (1,373 m) |
| Population
(2020)
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| • Total | 51,017 |
| • Density | 1,700/sq mi (660/km2) |
| Time zone | UTC−7 (Mountain (MST)) |
| • Summer (DST) | UTC−6 (MDT) |
| ZIP code |
84020
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| Area code(s) | 385, 801 |
| FIPS code | 49-20120 |
| GNIS feature ID | 1427473 |
| Website | www |
Draper is a city in Salt Lake and Utah counties in the U.S. state of Utah, about 20 miles (32 km) south of Salt Lake City along the Wasatch Front. As of the 2020 census, the population is 51,017, up from 7,143 in 1990.[3]
Draper is part of two metropolitan areas; the Salt Lake County portion is in the Salt Lake City metropolitan area, while the Utah County portion is in the Provo-Orem metropolitan area.
The Utah State Prison is in Draper, near Point of the Mountain, alongside Interstate 15. Gary Gilmore‘s execution occurred on 17 January 1977. The Utah Legislature voted to relocate the state prison to Draper in 2014 and in 2015 approved the Salt Lake City location the prison relocation commission recommended. The Draper Prison will close in 2022. Inmates will be moved to a new prison facility in Salt Lake City; the new prison is slated for completion in mid-2022.[4]
Draper has two UTA TRAX stations (Draper Town Center, 12300/12400 South and Kimball’s Lane 11800 South) as well as one on the border with Sandy (Crescent View 11400 South). A FrontRunner commuter rail station serves the city’s west side. The city has around 5 FLEX bus routes connecting neighboring communities and two bus routes to Lehi Frontrunner Station and River/Herriman, connecting at Draper Town Center and the Draper Frontrunner Stations.
The city is home of 1-800 Contacts and a large eBay campus.
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