[PA] How can a surviving spouse transfer Canadian stocks held solely in a deceased spouse’s name?

PA Estate Probate

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The $50,000 limit you saw is for a PA “small estate” court petition covering certain probate property, not a cap on everything you own. It applies to probate personal property in PA, excluding real estate and certain payments (20 Pa.C.S. § 3102).

Since these shares are in your husband’s name only, the company or transfer agent often wants proof you have legal authority to act for his estate, like letters from the court, before they will transfer or sell.

Before you file anything, ask the company or transfer agent for a single written checklist of what they require, and ask them to confirm whether they need:

(a) letters from the court
(b) a court order
(c) something else like a medallion signature guarantee

Ask them to confirm the exact name of the form they want and who must sign it.

Separate the assets into two buckets:

Non-probate items (accounts or policies with beneficiaries)
Probate items (titled in his name alone)

Your wills do not control beneficiary designations.

If the shares came from an old insurance setup, ask whether this is a beneficiary payout or an investment account. Life insurance proceeds are not subject to PA inheritance tax. Transfers to a surviving spouse are taxed at 0%, though institutions may still request proof.

If the company insists on a small estate filing but the value they’re treating as “estate property” is over $50,000, ask them what value they are using and why.

To cut through the conflicting instructions, keep all communication in one thread and ask yes/no questions like:

Do you require PA court letters?
Do you accept a death certificate and will alone?
Do you require PA inheritance tax proof?

Pennsylvania Small Estate Affidavit

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My husband died in September. He had stocks (through insurance) in a company in Canada. I am the single heir to everything, which totals over probably $400,000 including stocks, savings and our small house. They told me to file a small estate affidavit but after filling it out (for PA), it said I could not have assets over $50,000. Do I have to contact a lawyer? The one who handled our wills said it would cost a few thousand dollars to set up an estate, which I was also told I didn’t need to do, being the only heir.

Lexi, Chatbot

I’m sorry to hear about your husband’s passing; that must be a difficult time for you. Can you confirm if the assets are solely in your husband’s name or if they are jointly held?

I don’t know.

Lexi, Chatbot

Have you already started the process of filing the small estate affidavit in Pennsylvania, and if so, what specific issues have you encountered?

I don’t know.

Legal Eagle

Hello, I’m Legal Eagle. I’m an attorney who works in your area of law and I’ll help you sort this out today. I’ve read what you shared, so let’s go over what’s happening and what your best next steps look like.

Have you confirmed whether the stocks in the Canadian company are solely in your husband's name or if they were held jointly with you?

They are in his name only. I am trying to get them transferred to me then have them sold. I have talked to six different people and gotten six different set of instructions. I know I answered “I don’t know” to the above questions as there was no other choice, but everything locally has been easily transferred to my name and everything is taken care of except this. It was a very old Manufacturers Ins Policy that got taken over by John Hancock years ago (in his name) and stocks were involved.

Legal Eagle

It sounds like you've been through a lot trying to get this sorted out. Could you share what specific instructions or steps you've been given by the different people you've talked to? This might help us figure out the best path forward.

At first they sent me a very long set of papers to fill out, needed a percent of probate, a processing fee and 14.5% taxes mailed with the papers. It was very confusing, so several other calls were made, each person telling me something slightly different. The last form is easy – Transfer of Ownership Package – but the person I talked to today said I had to include this affidavit. Going online, filled it out then saw there was a limit in PA of $50,000. This was the first I knew of this. I had called the lawyer after my husband died, who made up our wills. We have had little contact with him other than this and he said it wasn’t necessary to set up an estate, which I found to be true as everything else was handled easily and is now in my name. Do I have to contact him and have an estate set up, or I’ll be subject to the other fees. I know I’ll have to pay taxes after all of this is over, but I am just confused with all the instructions and because they are out of country.

Legal Eagle

Understood! So you're just wondering what you need to do here, correct?

Yes. I guess the $50,000 limit makes it more difficult for me to figure out the next step.

Legal Eagle

Ok, I’ve got what you’re getting at here! Were there any other facts you’d like to add before I answer your question?

I can’t think of any off hand.

Legal Eagle

Thank you so much for chatting with me on this.

Legal Eagle

Before you file anything, ask the company or transfer agent for a single written checklist of what they require, and ask them to confirm whether they need:

(a) letters from the court
(b) a court order
(c) something else like a medallion signature guarantee

Ask them to confirm the exact name of the form they want and who must sign it.

Separate the assets into two buckets:

Non-probate items (accounts or policies with beneficiaries)
Probate items (titled in his name alone)

Your wills do not control beneficiary designations.

If the company insists on a small estate filing but the value they’re treating as “estate property” is over $50,000, ask them what value they are using and why.

To cut through the conflicting instructions, keep all communication in one thread and ask yes/no questions like:

Do you require PA court letters?
Do you accept a death certificate and will alone?
Do you require PA inheritance tax proof?

Legal Eagle

Does that help clarify things?

They do require a medallion as well as notarized signatures which I think can be done at the bank when I get the medallion. This is a lot to process, so I will print it out and then call them back and ask to talk with a supervisor. Getting so many directions from a variety of people is just confusing things more. When the insurance company was bought out, for some reason, the insured (my husband) was issued shares of stock. It was a long time ago and he never questioned it – just let it sit and we got occasional dividends. I don’t think it would be considered an annuity. So you are suggesting that because everything is now in my name, and this is the only thing still in his, that value (less than $50,000) might be all I need to claim?

Legal Eagle

I hear you. If the shares in his name are under $50,000, that may fit the PA small-estate process for that specific asset. However, the company can still require its own paperwork, and if they insist on court letters, you may need a regular estate filing. Asking for a supervisor and a single written checklist is the best next step.

Ok, I will. I hope this gets settled soon. I’m 80 and sure don’t want my kids to still be dealing with this someday!!! Thanks for your advice.

Legal Eagle

For sure! Did I thoroughly address your question? Did I provide top-tier service?

Yes, you were helpful. You did provide good service in a confusing circumstance and I will try to take it from here – again. Thank you and I wish you a wonderful holiday.

Can I print this chat out through this site?

Legal Eagle

Sure thing! You can copy and paste the transcript into a Word document, or save the URL and return to it later.

I appreciate your help. I guess it’s time to sign off and try to go from here – maybe tomorrow, though.

Legal Eagle

It has been a pleasure serving you. Thank you so much for contacting us! We’re happy to help whenever you need it.

Legal Eagle

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