Originally Posted by pb4uski
Why not just transfer 1/x th of the shares in-kind to each beneficiary and let them decide whether or not they want to keep and if they decide to sell then any appreciation or depreciation since you Mom's death would be capital gain or loss since the basis was reset at her death?
I think many posters here are making this too complicated. I administered hundreds of complex estates over a 35-year career in the trust business with some major trust institutions, and the cardinal rule was to liquidate most estates promptly and distribute cash, unless the beneficiaries specifically requested certain assets and agreed to indemnify the executor for any loss resulting from retention of those securities. An executor who retains the decedent's original assets for an unreasonable length of time does so at his peril and subjects himself to personal liability for any loss resulting.
When there are multiple beneficiaries it rarely makes sense to distribute in kind because it become very complex and difficult to make equitable distributions. Give them cash and let them invest in whatever they wish.
I did that in most estates I administered including my Mother's estate and everyone was happy.