Where Do I List Stocks and Mutual Funds on the Inventory?
Most stocks and mutual funds (including money market funds, ETFs, REITs, etc.) will be listed on Part 1 of the inventory.
However, stocks and mutual funds that have transfer-on-death (TOD) beneficiary designations should not be listed on the inventory at all. Usually, this occurs when the brokerage account holding the stocks and mutual funds has a TOD beneficiary designation. Bequests made in the will do not count as TOD beneficiary designations.
How Do I List Stocks and Mutual Funds on the Inventory?
All stocks and mutual funds must be listed separately on the inventory, even if the stocks and mutual funds were held together in the same brokerage account.
When listing stocks and mutual funds on the inventory, please make sure to list:
- The name of the company or mutual fund;
- The ticker symbol, if the company was publicly traded;
- The class of shares, if applicable;
- The number of shares;
- The price per share on the date of death; and
- The total value of the shares on the date of death.
Of these numbers, the only number that you should round off is the total value of the shares, which may be rounded off to two decimal places. The following formats are acceptable:
|Part 1. The decedent’s personal estate under your supervision and control, valued at the date of death.|
|DESCRIPTION OF PROPERTY||VALUE|
|110.25 shares of XYZ Inc. stock (NYSE: XYZ) at $107.375 per share||$11,838.09|
|196.667 shares of DEF Corporation Class A stock (AMEX: DEF) at $1.125 per share||$221.25|
|257.334 shares of ABC Corporate Income Fund (Nasdaq: ABCDE) at $9.86 per share||$2,537.31|
Where Do I List Dividends or Capital Gains Distributions on the Inventory?
Any checks for dividends or capital gains distributions that were issued before the date of death, but that were never cashed by the decedent, should be listed on Part 1 of the inventory.
Any dividends or capital gains distributions that were issued after the date of death should not be listed on the inventory at all. You will instead list them as receipts on the accounting. This is true even if the dividends or capital gains distributions were issued before your date of qualification.