Any financial advisors out there?

Mrs_Pepperpot_2

I'll try to be clear ( I ramble a lot)

My nan died 2 months ago - she had altzeimers (sp?) and for the last year or so my parents had conrtol of her finances (Legally - can't remeber what it is called)

During this time my parents built an extention on their house for her to live in as she was no longer able to care for herself.

My parents saw a financial advisor before they carried out this work and were told that her estate was worth about 200k - with the siblings permission they spent about 60k on the extension.

Now in theory that should have left about 120k to be split between the 4 children but during that time and my nan dying share prices have dropped to the point where her estate is now only worth about 40k as they spent her savings on the extension and left the shares.

The long and short of my question is this - can you inherit shares rather than inheriting the money from them? - i.e could the siblings slit the shares and hold onto them until they are worth more?

I would like to point out that I do not persoanlly stand to gain anything from this but feel very sad for my nan who spent her years preparing a nest egg for her children and was very proud of it. She would be devastated to know what had happend to them.

Thanks in advance for any advice.

dunstonh

can you inherit shares rather than inheriting the money from them? - i.e could the siblings slit the shares and hold onto them until they are worth more?

yes. The executor doesnt need to sell the shares but can do a stock transfer to the beneficiaries.

Mrs_Pepperpot_2

Thank you - and does this sound like a reasonable idea to you?

bendix

What happened to the missing £20k? You say the estate was worth £200k, then £60k was spent on the extension, and after that the balance was £120k.

Mrs_Pepperpot_2

Just rubbish at counting! Which is why I'm not a financial advisor...:D

bendix

In that case, have I got a deal for you:

I've got four nice big purple twenty pound notes here, but they're cluttering my wallet. Could I swap you for a couple of fifties?

Mrs_Pepperpot_2

:rotfl::rotfl::rotfl::eek:

Why would I want to give you 30 quid?