Retrieve escheated assets
When a US account becomes dormant for the specified time period as set out by state law, it is transferred to the state and usually liquidated. If this happens, the escheated funds can still be reclaimed, however, it is often a lengthy and protracted process.
We have extensive experience of different State processes and can help recover escheated assets, maximising the value of the estate for the beneficiaries. On average, we have found that claims for escheated funds take approximately 18 months to 2 years to complete. However, this can substantially increase for those without the knowledge of how to efficiently deal with escheatment.
Expedited stock transfers
If you are administering an estate with shares traded on the US or Canadian Stock Exchanges, it’s very likely you’ll need a Medallion Signature Guarantee before the shares can be transferred or sold. We can help manage that process for you, ensuring efficient share transfers, and helping you administer your clients’ assets much sooner than would have otherwise been possible.
Case study: Complicated Canadian shareholdings
Title Research was instructed to sell two Canadian shareholdings, on behalf of our solicitor client who was on the verge of retiring. The solicitor had been trying to sell the Canadian shares for eight years and hoped to do so before she retired.
The Canadian shareholdings were held in the joint names of three individuals, and two of these individuals had died. Each deceased individual had appointed four executors, additionally all the share certificates were also missing.
Title Research worked closely with our client to explain the whole process and ensure instructions were included with all of the paperwork. We provided updates every two weeks whilst the client worked with the nine individuals who needed to sign the paperwork. Once the paperwork had been signed, the missing share certificates were reissued and the shares were sold.
Our solicitor client had been trying to sell the Canadian shareholdings for eight years and Title Research managed to complete the work in just nine months. Our client was incredibly complimentary and grateful. She could also now retire with peace of mind that the estate was now closed.
