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Bereavement - Inheriting shares?
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# 1
Sheffield_Tiger
Old 31-01-2008, 9:13 PM
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Default Bereavement - Inheriting shares?

Help!

What happens to shares when a person dies? In this case, my mother. With a small amount invested in shares in 2 or 3 companies (still finding all the paperwork)

Who do I need to inform? As next of kin with no will but no-one to contest any of the estate.

Or do all these things get transferred after probate is granted?
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# 2
tradetime
Old 31-01-2008, 9:38 PM
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To the best of my knowledge based on experience of something similar a few years back, the solicitor dealing with probate (assuming there is a solicitor) will liquidate all shares and the monetary value will be calculated into the estate.
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# 3
Sheffield_Tiger
Old 31-01-2008, 10:28 PM
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Hmm...trying to do it without solicitors as where it is possible to do anything be it fixing my car or filling in forms, my philosopy is always to do myself what I can and pay others to do it only if it's necessary (therefore my post count on this forum will go up rapidly as I keep asking different questions!)
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# 4
cloud_dog
Old 31-01-2008, 10:36 PM
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Just apply for probate and once you have probate, complete the backs of the share certs (assuming in paper form), send all appropriate info (probate / death certs etc) to the registras of the companies and they will re-register in your name. You can then hold, sell, transfer as you see fit.

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# 5
MoneyTown
Old 31-01-2008, 10:37 PM
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Just going through this now with my mother in-law's estate. DIY is better option if you are confident with the forms.

You need to register the death and then apply for probate:

http://www.hmcourts-service.gov.uk/i...bate/index.htm

All assets can be got at after probate is granted.
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# 6
Sheffield_Tiger
Old 31-01-2008, 10:44 PM
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Thanks

Applying for probate is on my list for early next week (priority last week was funeral and this week emptying house before the few bad apples on the estate work out it's unoccupied and go "shopping")

So annoying that the Probate Service demand more money from you for DIY'ing than if you use a solicitor - it's as if they are trying to tie you to paying for a solicitor!
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# 7
MoneyTown
Old 31-01-2008, 10:53 PM
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Quote:
Originally Posted by Sheffield_Tiger View Post
Thanks

So annoying that the Probate Service demand more money from you for DIY'ing than if you use a solicitor - it's as if they are trying to tie you to paying for a solicitor!
Long term the solicitor will cost loads more.
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# 8
cloud_dog
Old 31-01-2008, 10:59 PM
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Quote:
Originally Posted by Sheffield_Tiger View Post
Thanks

Applying for probate is on my list for early next week (priority last week was funeral and this week emptying house before the few bad apples on the estate work out it's unoccupied and go "shopping")

So annoying that the Probate Service demand more money from you for DIY'ing than if you use a solicitor - it's as if they are trying to tie you to paying for a solicitor!
Just be aware probate can take a (relatively) long time
Personal Responsibility - Sad but True
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# 9
Alfie E
Old 31-01-2008, 11:08 PM
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Quote:
Originally Posted by Sheffield_Tiger View Post
So annoying that the Probate Service demand more money from you for DIY'ing than if you use a solicitor - it's as if they are trying to tie you to paying for a solicitor!
But, there’s more work with a personal applicant. You have to have an appointment with a Commissioner for Oaths from the Probate Registry/Sub-Registry. A solicitor is a Commissioner for Oaths, and I don’t suppose their paperwork gets checked as rigorously.
古池や蛙飛込む水の音
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# 10
heppy23
Old 31-01-2008, 11:23 PM
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Quote:
Originally Posted by cloud_dog View Post
Just apply for probate and once you have probate, complete the backs of the share certs (assuming in paper form), send all appropriate info (probate / death certs etc) to the registras of the companies and they will re-register in your name. You can then hold, sell, transfer as you see fit.

cloud_dog
I agree. My Dad has still got some shares that belonged to my Grandpa who died 20 years ago.
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# 11
agal
Old 01-02-2008, 12:06 AM
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Quote:
Originally Posted by Sheffield_Tiger View Post
Help!

What happens to shares when a person dies?
Exactly the reason I put everything in the wife's name since a) she has no income and b) I expect to die before her
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