finding dad's stocks?

[vjiocco]

What is the name of your state? New York

My father recently passed away. He has been buying stocks since the 1950's. When his stock broker was contacted, he stated that he had no idea how many stocks my father had. How can this be possible? I believe that my step brother used a fake power of attorney to cash some of my fatrher's stocks through this broker and the broker is trying to cover his butt. How can I find out the truth? Thanks.

 

[BlondiePB]

My father recently passed away. He has been buying stocks since the 1950's. When his stock broker was contacted, he stated that he had no idea how many stocks my father had. How can this be possible?

You think that dad was the broker's only client and would happen to know exactly how many stocks dad had?

I believe that my step brother used a fake power of attorney to cash some of my fatrher's stocks through this broker and the broker is trying to cover his butt. How can I find out the truth? Thanks.

Hire an attorney. BTW, I read your other thread about the safety deposit box. If your step brother used the POA to get into the box after dad died, he did so without any authorization to do so because POAs expire when the grantor dies (unless your step brother was listed as authorized to access the box). You need an attorney to look into this. Your problem with the money in the safety box and anything else in there is proof.

 

[seniorjudge]

What is the name of your state? New York

My father recently passed away. He has been buying stocks since the 1950's. When his stock broker was contacted, he stated that he had no idea how many stocks my father had. How can this be possible? I believe that my step brother used a fake power of attorney to cash some of my fatrher's stocks through this broker and the broker is trying to cover his butt. How can I find out the truth? Thanks.

Keep all your questions about your problems with pa's passing in one thread:

https://forum.freeadvice.com/showthread.php?t=322522

 

[vjiocco]

thank you for the advice!

 

[vjiocco]

You think that dad was the broker's only client and would happen to know exactly how many stocks dad had?

If the broker receives a commission wouldn't he know what client/account he received it from?

 

[BlondiePB]

If the broker receives a commission wouldn't he know what client/account he received it from?

Think bigger...such as the broker's trusted employee(s).

 

[xylene]

Have you considered contacting some of the major transfer agents (Mellon, Computershare) to see what he may have held directly as certificates and/or in book entry.

 

[vjiocco]

Have you considered contacting some of the major transfer agents (Mellon, Computershare) to see what he may have held directly as certificates and/or in book entry.

I have never even thought of that. Thank you.

 

[Dandy Don]

The executor of the estate can order your father's most recent state and federal tax returns, for a modest fee, to look at the Form 1099's from each stock dividend he received to see what companies he was a stockholder in, and there are other ways for finding this out--you need to consult with a stockbroker to find out how this is done. Or if your dad used an accountant or CPA to prepare his tax returns, check with the accountant to see if he has any of your dad's records on file.

DANDY DON IN OKLAHOMA ([email protected])

 

[vjiocco]

thank you but the stock broker is not cooperating and I believe that he may be involved with some less than legal actions with my dad's accounts. He states that he doesn't keep records of his client's accounts. My father kept all of his stock certificates at home and when he pased away the certificates disappeared too.