I need to get money from my inheritance, the estate isn't settled and lawyer is mia... can I sell some of my stock on my own?

Asked over 1 year ago - Warren, MI

My car was impounded last night, I've been calling my estate lawyer all day but I can't reach her. I need my vehicle! Can I sell off a few shares of my inherited stock on my own, or do I have to use my lawyer? Every day it's going to cost me more money, I can't wait a week if she's on vacation. :(

Attorney answers (4)

  1. Kenneth R. Gold

    Pro

    Contributor Level 11

    4

    Lawyers agree

    Answered . Has the stock already been distributed to you? If so it is yours to do with as you want. If not, you will need to wait for the PR to make the distribution which may be delayed for a number of reasons.

    Ken

  2. Tassma Ann Powers

    Pro

    Contributor Level 6

    4

    Lawyers agree

    Answered . If the stock has already been distributed to you as the beneficiary of the estate then you should not need to discuss it with the estate lawyer.
    If it is still in the estate, then you should contact the Personal Representative. If you are the personal representative then you should wait. It not advisable to make distributions without following the required probate process.

    I am licensed in Wyoming only. The legal analysis of any situation depends on a variety of factors which cannot... more
  3. Brian Michael Malloy

    Contributor Level 10

    4

    Lawyers agree

    Answered . If the estate has not settled, then none of the assets have been distributed and none of the assets are yours yet. You cannot do anything. You can however hire an attorney to petition for a preliminary distribution (but this will likely take over a month as it is a noticed hearing). You can also try to take a loan out against your share of the estate. Please note, however, that the personal representative has the discretion and may reject the loan, but if he/she accepts the loan, you will be responsible for interest.

  4. James P. Frederick

    Contributor Level 20

    2

    Lawyers agree

    Answered . Since you have a lawyer, it is not ethical for anyone on this site to give you advice on this situation, other than "speak to your lawyer." If the lawyer makes a habit of being "mia", then you may need a different lawyer.

    James Frederick

    *** LEGAL DISCLAIMER I am licensed to practice law in the State of Michigan and have offices in Wayne and... more

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

27,034 answers this week

2,948 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

27,034 answers this week

2,948 attorneys answering

Legal Dictionary

Don't speak legalese? We define thousands of terms in plain English.

Browse our legal dictionary