Florida Letters of Administration When a Brokerage Firm is Involved

If a loved that has died had assets in a brokerage firm, you might need to present Letters of Administration (LOAs) to get access to mutual funds or stock holdings. But before you take action, you should discuss your options with estate planning attorneys in Fort Myers, who can explain the pros and cons of LOAs and situations when they may or may not be necessary. 

In some situations Summary Administration, which is less costly than LOAs, may be ideal, but there are eligibility requirements that you should discuss with an attorney.

Probate Scenario that May Ring True

Consider this scenario: The deceased had a brokerage account holding several investments that haven't been liquidated. Securing Letters of Administration may be necessary because, with LOAs, you would have the authority to order those stock positions be closed.

What this means is that if you wanted to sell your loved one's stock, you would most likely have to be the personal representative in possession of LOAs to make such a call.

The laws regarding Letters of Administration in Florida can be difficult to understand if probate is not your area of expertise. Sometimes LOAs are necessary and sometimes they aren't. To get an understanding of the LOA process, you should meet with estate planning attorneys in Fort Myers.

Help from Estate Planning Attorneys in Fort Myers is Just a Phone Call Away

Fort Myers estate planning attorney Matthew A. Linde understands firsthand the importance of careful estate planning and the complexities of financial legal matters, such as probate, tax litigation and guardianship. For help with your probate concerns, contact our Fort Myers office to schedule a one-on-one meeting with a professional who can answer your questions – 1-239-939-7100 or 1-844-764-5492.

Matthew A. Linde
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