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Author Topic: Does anyone know about stocks?  (Read 606 times)

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Offline PaintedHooves

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Does anyone know about stocks?
« on: November 21, 2012, 06:47:22 AM »
My husband and I are looking into buying our first home and we could do with some extra cash... No surprise right?
I have some stock that a family member bought for me quite a few years ago that are doing well, and I'd like to sell them.  However I have no idea what I'm doing with stock and all the fees and such that go along with them.  All I have are two statements that family has forwarded to me from a year or two ago and they don't have my real name on them...  My parents weren't married when they had me and so my last name is listed as a combination of their last names (something I have never done nor ever had recorded on any official document).  In addition, I've gotten married since then... Will this cause an issue?

Overall I'm asking, What do I need to do in order to turn this stock into cash?  I don't really have any contact with that part of my family any more so I can't really ask them.  Help please!  And Thank you!

Offline HorsingAround

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Re: Does anyone know about stocks?
« Reply #1 on: November 21, 2012, 07:01:36 AM »
I've never had paper stocks, all of my trading has been done online... Do you have the certificate or does a broker?  If you have it in your possession you might need to get a brokerage account in order to do a sell order.  For example, you could open an account with an online brokerage firm and let them know that you will be sending them a paper stock certificate (you have to sign it to do the transfer but make sure you let the firm know about the whole name issue so they can advise)... send them the certificate and then is should be reflected in your online account.  Then you are good to go with your sell order.  Just remember that there will be fees including commissions and maybe taxes.  Good luck!  :)
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Offline kaoskat

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Re: Does anyone know about stocks?
« Reply #2 on: November 21, 2012, 07:23:14 AM »
I have not a clue. HorsingAround's advice seems sound though.
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Re: Does anyone know about stocks?
« Reply #3 on: November 21, 2012, 08:06:16 AM »
Contact a broker and they should be able to help you!  :) 
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Offline Eviecorn

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Re: Does anyone know about stocks?
« Reply #4 on: November 21, 2012, 08:41:08 AM »
Stocks make me extremely nervous.

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Offline melodys_angel

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Re: Does anyone know about stocks?
« Reply #5 on: November 21, 2012, 11:37:03 AM »
No idea. Ive done mine through the bank :(
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Offline zabe77

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Re: Does anyone know about stocks?
« Reply #6 on: November 21, 2012, 05:14:03 PM »
Is there a contact number on the statement you have? Usually there is a number to call and possibly an assigned broker if you have a statement.  And as for the name, does your birth certificate have your hyphenated name? That plus your marriage cert should be enough if you need to prove it's you I would think.

Offline PaintedHooves

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Re: Does anyone know about stocks?
« Reply #7 on: November 21, 2012, 07:00:08 PM »
Thanks everyone!  I don't have the paper certificate, just the statements that I mentioned.  I'll probably be calling them on friday to figure out what to do.  I don't know if my family has the paper certificate (if so I'm probably tough out of luck), or if the company has it on hand waiting for me to claim it. 
Also, unfortunately, my birth certificate only has my mother's last name on it, so no luck there.  I'm just hoping they'll have my SSN on record and that will be enough.

 

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