WHY YOU MAY NEED A MEDALLION STAMP

Transferring securities from one account to another often requires this extra step.

- EMMA PATCH

MEDALLION signature guarantee, also known as a medallion stamp, is designed to protect financial institutions and individuals from fraud when stocks, bonds or other financial assets are transferred from one account to another. For example, if you are the executor of an estate, you may be required to obtain a medallion stamp to authorize the transfer of securities from the original owner's account to beneficiaries. If securities are held in a living trust, the trustee may have to obtain a medallion stamp to transfer them to the trust's beneficiaries.