Thanks all for the great instructions which I understand as:
a. At Computershare, transfer the shares out of the MetLife PolicyHolder Trust. Will they then become common stock in book form?
b. At Vanguard, initiate a transfer of common stock in book form from Computershare to Vanguard.
1. Does leaving the shares in the MetLife PolicyHolder Trust provide any benefit?
a. The only benefit discussed here is that if left at ComputerShare there is no fee if the asset is sold; does that apply to both shares held in the PolicyHolder Trust and common stock shares in book form?
b. Do common stock shares receive the same dividends as PolicyHolder Trust shares?
2. Regarding 1a above, if tranferred to Vanguard and then sold, does anyone know what the Vanguard fee is? I googled and all I found is this statement: All stock sales are subject to a securities transaction fee. Account service fees may also apply.
I'm in the process of helping a family member consolidate their assets at Vanguard for simplicity of both understanding their total assets, single RMD (already acheived), fewer sources of tax documents, general simplicity and so that eventually things are easier for the executor.
Since the consensus seems to be that the cost basis of these shares is $0, to reduce overall taxes paid, it seems these MetLife shares should become an asset that will most likely be inherited (assuming my family member will never need this money) so the basis can be reset and it can be sold at that time with no or minimal capital gains. That seems less complicated if the shares are at the same place as most other assets (Vanguard), but maybe I'm missing something.
a. At Computershare, transfer the shares out of the MetLife PolicyHolder Trust. Will they then become common stock in book form?
b. At Vanguard, initiate a transfer of common stock in book form from Computershare to Vanguard.
1. Does leaving the shares in the MetLife PolicyHolder Trust provide any benefit?
a. The only benefit discussed here is that if left at ComputerShare there is no fee if the asset is sold; does that apply to both shares held in the PolicyHolder Trust and common stock shares in book form?
b. Do common stock shares receive the same dividends as PolicyHolder Trust shares?
2. Regarding 1a above, if tranferred to Vanguard and then sold, does anyone know what the Vanguard fee is? I googled and all I found is this statement: All stock sales are subject to a securities transaction fee. Account service fees may also apply.
I'm in the process of helping a family member consolidate their assets at Vanguard for simplicity of both understanding their total assets, single RMD (already acheived), fewer sources of tax documents, general simplicity and so that eventually things are easier for the executor.
Since the consensus seems to be that the cost basis of these shares is $0, to reduce overall taxes paid, it seems these MetLife shares should become an asset that will most likely be inherited (assuming my family member will never need this money) so the basis can be reset and it can be sold at that time with no or minimal capital gains. That seems less complicated if the shares are at the same place as most other assets (Vanguard), but maybe I'm missing something.
Statistics: Posted by Saving$ — Tue Jan 21, 2025 3:57 pm