Hello,
An elderly relative recently died and left a portfolio of ny municipal bonds and preferred stocks. They are held by a few large brokerages. I'm helping the executor settle the estate.
I looked at the trading volumes on these securities and they are very low. We would like to sell in a way that maximizes the value.
The executor called one of the brokerages and asked them what the commission will be to liquidate the bonds. The broker said there are no commissions and that the securities are very liquid. I'm concerned that if we just tell the broker to liquidate that we will end up selling at terms that aren't favorable. What's the best way to handle this? Can we negotiate terms with the brokers?
Thanks.
An elderly relative recently died and left a portfolio of ny municipal bonds and preferred stocks. They are held by a few large brokerages. I'm helping the executor settle the estate.
I looked at the trading volumes on these securities and they are very low. We would like to sell in a way that maximizes the value.
The executor called one of the brokerages and asked them what the commission will be to liquidate the bonds. The broker said there are no commissions and that the securities are very liquid. I'm concerned that if we just tell the broker to liquidate that we will end up selling at terms that aren't favorable. What's the best way to handle this? Can we negotiate terms with the brokers?
Thanks.