Help with share advice

laura1812

Hi

Not sure if this post is in the best place but I will start here. I am looking for some advice. My mum has recently obtain power of attorney for my Granda as he has dementia and is becoming increasingly confused. We discovered at the weekend he has money invested in shares. Can anybody advise do we need to let the share company know about my mum now having power of attorney? Will they still keep the shares in Grandas name or will they transfer the details into mums name? Would people advise just cashing in the shares at present or is it easy enough to cash them in later (running the risk that mum will be making this decision on behalf of my granda) ie is this process easy enough to do or is it easier to do it now whilst my Granda can still be ok from time to time. Any help from anyone who has been in similar situations is appreciated.

xylophone

http://www.direct.gov.uk/en/Governmentcitizensandrights/Mentalcapacityandthelaw/Makingarrangementsincaseyoulosementalcapacity/DG_185921
You need to advise the company registrar.
https://www-uk.computershare.com/investor/faqs2.asp?bhjs=1&fla=0&category=%7B116CECF2-2C82-467D-83E9-05995BCD64F3%7D
https://help.shareview.co.uk/4/Help/default/en/Shareholder/Pages/PowerofAttorney.aspx
These links might help.
Once you have registered the PA your mother should be able to deal with your grandfather's affairs.
Shares can be sold when you need/want to do so.
Remind your mother to keep any money etc belonging to your grandfather completely separate and to keep meticulous records.

laura1812

Hi
Thanks for info, we live in Scotland so from what I can gather we do not need to advise the company registrar. The solicitor who dealt with the documentation advised us there was nothing else we needed to do in terms of registering it etc.

xylophone

we live in Scotland

Details re PA in Scotland in first link.