[WSBAPT] Stock Dividend Paid While Probate is Open

[Dalynne Singleton]

I think the question is:  Who currently owns the stock - decedent and now, Estate? The shares have not been transferred to the 3 of 4 beneficiaries.
My two cents, for what it is worth.

Dalynne Singleton
Gourley Law Group
Snohomish Escrow
The Exchange Connection
1002 10th Street / PO Box 1091
Snohomish, WA 98291
360.568.5065
360.329.4079
360.568.8092  fax
dalynne at glgmail.com<mailto:dalynne at glgmail.com>

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jane Bitz
Sent: Wednesday, March 25, 2020 12:45 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Stock Dividend Paid While Probate is Open

Hi All:
I have a probate where 3 of the 4 beneficiaries have been given a specific bequest of shares in a closely held corporation located in Canada. The Corporation has told the PR that they will only transfer the shares to the named beneficiaries when probate is completed. For various reasons, the probate is not ready to close. A dividend is on its way, made payable to the Estate. Should this dividend be distributed to the 3 beneficiaries of the stock (or to their shares of the estate) OR is it Estate income/property of the Estate, once paid that must be shared in the residuary distribution to all 4 beneficiaries?
Thanks for your help, in advance.
Jane Bitz.

Jane G. Bitz
Of Counsel
Wolff, Hislop & Crockett, PLLC
12209 E. Mission Ave, Suite 5
Spokane Vallley, WA 99206-4824
(509) 927-9700 x126
FAX: (509) 777-1800

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