Lack of information on how to transfer share from one person to another in a family has caused heart ache and sorrow for many people. Fortunes have been lost and untold hardship incurred. A story was told of a widow who never knew that the ‘papers’ (share certificate) in her husband’s safe was real money but ignorance made her suffer for some time before the certificates were demobilized thanks to the intervention of a broker by providence. She was lucky. Many others never had that chance.
When you are bereaved, there is a process you can go through to transfer the shares of your husband or wife. A father can do his will and transfer his shares to the children. Here are steps to take in order to accomplish this task:
Number One: Approach Your Stock Broker
There is nothing you can do at the stock exchange without the service of a broker. Take all the documents at your disposal to him concerning the shares.
Number Two: Expect 2 Things From The Broker
Your broker will do either of two things once you give all the documents to him. He will transfer the shares (nominal transfer) from the benefactor( i.e. father or deceased spouse) to the son or daughter or wife. The other step he may take is to sell those shares and buy others for you and credit your account accordingly.
Take these vital steps when you find yourself in any situation which demands that you transfer shares from one family member to another.
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