changing the ownership of shares

Krafty

Hi,
A friend of mine who is now facing this very situation.
She is a recent widow and her husband's Will leaves everything to her.
Should she still be subjected to these charges or should she hand over Santander's letter and form to the executors of her husbands Will?
Is she then likely to inherit the shares without chrages as there is no risk to Santander given she has an un-opposed Will?
Thanks in anticipation.
Krafty

Elaine_Wilson

The risk to Santander mentioned above was because there was no evidence that the person claiming the money was actually entitled to it.

If the executors of your husband's will obtain probate then this means that they have satisfied the probate court that they are entitled to deal with the assets of the deceased. Santander can then rely on this and only require to see an official copy of the probate.

If probate is not obtained then they must cover themselves against fraud by the persons claiming to be the executors. In these circumstances the charges are appropriate.

Krafty

Elaine_Wilson wrote: »

The risk to Santander mentioned above was because there was no evidence that the person claiming the money was actually entitled to it.

If the executors of your husband's will obtain probate then this means that they have satisfied the probate court that they are entitled to deal with the assets of the deceased. Santander can then rely on this and only require to see an official copy of the probate.

If probate is not obtained then they must cover themselves against fraud by the persons claiming to be the executors. In these circumstances the charges are appropriate.

Thank you for your reply.. as I say I am just a friend of the person widowed and "thankfully" to date have not had to deal with any Wills or Probate.

She simply referred the letter/charges to me asking if I thought it correct/reasonable.

It's interesting that:-

a) the letter from Santander does not refer to/question the existence or otherwise of a will;

b) does simply ask for the form to be signed and returned with a cheque for £60+.

Thanks again for your reply, I will advise her to await Probate being granted and then re-applying to Santander for the shares to be transferred into her name.

P.S. MSE comes up trumps again!!:T

jonesMUFCforever

Wait if you must but they will still ask for the charge!

Krafty

ejones999 wrote: »

Wait if you must but they will still ask for the charge!

Thanks for that input... I'll let you know how she gets on.

Krafty

ejones999 wrote: »

Wait if you must but they will still ask for the charge!

Sorry, point of clarification.. by "charge" do you mean the Admin Charge? ie £28.20?

Thanks in anticipation.

jonesMUFCforever

Yes - this is to cover the admin work required to issue a new paper share certificate.

Krafty

ejones999 wrote: »

Yes - this is to cover the admin work required to issue a new paper share certificate.

Thanks for that.... I'd expect some admin charge... but not have to indemnify them given she has a will.

As (I think) you said early the admn charge is not out of line with many other organisations for such work.

Thanks again.

jonesMUFCforever

Krafty wrote: »

Thanks for that.... I'd expect some admin charge... but not have to indemnify them given she has a will.

As (I think) you said early the admn charge is not out of line with many other organisations for such work.

Thanks again.

Well if the original certificate cannot be found you may well be charged for an indemnity as well.