Did you know that shares of Green Bay Packers stock are transferable to immediate family members and lineal descendants? Whether you’ve held Packers shares for years, recently inherited them, or want to plan for who will receive them after you pass, While the shares might not pay dividends, planning for the transfer of Green Bay Packers stock to your loved ones as part of your estate planning might. With the Annual Shareholders’ Meeting happening this month, now may be a good time to consider who you would like your shares to pass to at your death. Here are some questions to ask yourself:
Do you have your original paper certificate?
– Ownership is proven by a paper certificate. If it’s missing, you’ll need to submit a Lost Certificate Affidavit and pay a $25 replacement fee. Make sure your personal representative (or another trusted individual) knows where the original is stored.
Did you designate an eligible beneficiary for your share(s)?
– Shares can only be transferred to immediate family or lineal descendants (i.e., spouse, children, grandchildren, parents, or siblings). They can’t be left to cousins, friends, or non-relatives.
Have you updated your estate plan to include a bequest of your share(s)?
– Because the Packers’ shares can’t be divided among multiple beneficiaries, it’s important to name a single beneficiary in your will or trust. This is typically done by adding a specific bequest provision that names the individual who will inherit your shares and under what terms. Doing so can help prevent confusion and/or conflict among family members and ensure your wishes are honored. It also simplifies the transfer process, especially when filing a Transfer by Affidavit after your passing.
Did you correctly bequeath your share(s)?
– Packers’ shares can’t be registered as Transfer on Death (TOD), placed in a trust, or held by a business. You must name an individual beneficiary in your estate planning documents.
Have you considered gifting shares during your lifetime?
– Gifting now avoids future transfer fees (about $25) and steer clear of gift tax concerns, thanks to the nominal $0.025 per-share value. Shares can be transferred during your lifetime using a Routine Transfer by Affidavit signed by all registered owners (if the shares are owned jointly).
With the Shareholders’ Meeting at the legendary Lambeau Field approaching, it’s the perfect time to ensure your estate plan protects your beloved Packers’ shares and secures your cheesehead legacy!