My mom is in a nursing home and is incapacitated. She doesn’t earn enough money to pay her nursing home bill, but has about $2,000.00 in common stock and $1,000.00 in a CD-IRA in Ohio. I’ve been told that I must travel to Ohio (I live in MD) to close the CD-IRA which is not feasible. How do I go about liquidating the stocks?
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Do you have access to mom's documents? She might have a brokerage account already set up and that is where you would sell the stock from. If not, Google it and try to find the cheapest route. You can also contact the company and find out if they are buying the stock.
Even when people buy or sell stock online it has to go through someone with a licence.
The CD and IRA should be through a bank that doesn't need to be sold per-say and just closed out but there will be fees if closed before it matured. CD can have 1yr, 3yr, 5yr, etc.
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