Cost of transferring shares to partner

chillerman

Hi, I was hoping that somebody could give me some advice. My Father-in-law owned 28 shares in National Grid and 33 shares in Centrica. He passed away last year and my wife rang both companies to inform them. she asked if they could be transferred into his wifes name as everything was left to her in his will, they stated that there would be a charge of approx £70 as there was no grant of probate!! surely this cannot be right? Thanks for any help

a&akay

From the Equiniti site, which deals with Centrica. Google it and look at the help section.

'Small estates
Many companies have special arrangements to make it easier to transfer or sell shares from estates that don't need a grant of representation. If you are going to apply for a UK grant of representation you won't be able to use the small estates procedure.
To qualify the total value of the estate must be below the inheritance tax limit and the value of any stock or shareholding shouldn't exceed £10,000.
Your first step is to write to us confirming the size of the estate and enclosing a copy of the death certificate. We'll send you the Indemnity forms that need to be countersigned on behalf of Royal Sun Alliance plc. There's a fee of £34.50 for each Indemnity that needs to be signed as well as a single, fixed administration charge of £35.25'.