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North-American-Shares - Registration-Services

North American Shares – Registration Services

North American Shares – Registration Services

Who needs this service?

If you are an executor or administrator of an estate and require assistance with administering shares located in the US or Canada, our International Private Client team has decades of experience in this area and we would be delighted to assist.

The process to attend to the shares will depend on the requirements of the transfer agent and how the shares are held. Most procedures require the completion of standard forms, which usually have to be completed in a particular manner to avoid being rejected when processed.

Many overseas residents find the procedures confusing, as the forms are usually prepared in a way which presumes a connection to North America. Some transfer agents are now charging additional fees if the forms have not been completed in the way that they require.

For the majority of death registrations, it will be necessary to provide a Medallion Signature Guarantee on the paperwork. Lester Aldridge is the first UK based law firm to be authorised as a guarantor on the medallion STAMP Programme, allowing us to provide medallion stamps to our clients.

What is included in the registration service?

The “Registration Service” includes the following work:

  1. Registration of death with the transfer agents and claiming entitlement to holdings where required;
  1. Providing all necessary forms to comply with the registration requirements, completing all details requested and providing full advice on the correct manner in which these must be signed;
  1. Providing Medallion Signature Guarantees where required on the death registration paperwork at no additional charge;
  1. Ensuring adequate insurance cover is in place when sending all documents, papers, certificates of title to the transfer agents. Arranging transportation to transfer agents by courier;
  1. Arranging for the transfer or sale of shares, reissuing uncashed dividends, providing accounts and distribution of the proceeds.

In addition, in some cases, it may be necessary to attend to the following for which we would provide you with additional costs advice:

  1. Completing US estate tax forms and attending to all IRS requirements to obtain federal tax clearance, also known as, “Form 5173 Transfer Certificate”;
  1. Obtaining replacement share certificates where the originals are missing by completing indemnity papers and arranging the required surety bond;
  1. Completing the formalities to have any restrictions on the shares removed;
  1. Searching records for escheated shares, or confirming escheatment through the transfer agents to then claim entitlement to abandoned property through the relevant US State.

What is required to obtain a quote?

If you wish to utilise our full registration service, please provide the following to allow the team to initially asses what kind of administration will be required, to determine the appropriate fees and requirements:

  1. Copy of death certificate;
  1. Copy of the probate and any will;
  1. Copy of any papers which confirm the shares that are held, including copies of any share certificates (together with confirmation as to whether you hold the original) and copies of any share statements;
  1. Confirmation as to whether you wish for the shares to be sold or transferred;
  1. Confirmation that the deceased was not a US citizen.

Once our team have considered the documents, they will advise if further information is required or provide you with a letter of engagement for your consideration.

The documents scheduled above may be emailed to us or posted.

If you believe you may require our assistance with the administration of any North American assets, we would be pleased to discuss your case with you. Please contact us at +44 (0)1202 786194 or 786118 for an initial discussion about your matter, or email us by clicking below:

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