Selling shares as executor

Savvy_Sue

There may be better places for this, but I'll give this a try.

Two executors and several bundles of shares, my co-executor has sent the Grant of Probate off to each of the holders, and has been sent piles of forms back which we both seem to need to sign, and returning the original share certificates.

So is the process that we transfer the shares and then sell, rather than being able to sell as executors without transferring?

And does that not involve us in two lots of commission?

dzug1

From memory (and it's a long time) there is no commission transferring the shares


The beneficiaries could take on the shares rather than selling them if that is an option

Shelldean

OH recently sold his Nan's BT shares. We didn't transfer them just sold them. They took their commission and sent him a cheque for the rest.

Relatively straightforward don't recall any problems.
The company he dealt with was Equini.

Mattygroves2

We sold quite easily by sending the brokers the probate information. They simply sold, took their commission, a closure of account fee and then transferred the cash. But they were all in a brokers account in one place.

I suspect you'll find they are simply sold and you get the cash but best to ask them direct.

Be aware that you may have a CGT liability if their value has risen since date of death but there is an executors allowance.

Savvy_Sue

Thanks everyone

dzug1 wrote: »

From memory (and it's a long time) there is no commission transferring the shares


The beneficiaries could take on the shares rather than selling them if that is an option

We offered that, but no-one wants them, we'd all rather have the dosh.

Shelldean wrote: »

OH recently sold his Nan's BT shares. We didn't transfer them just sold them. They took their commission and sent him a cheque for the rest.

Relatively straightforward don't recall any problems.
The company he dealt with was Equini.

Equiniti is one of the holders. Computershare is one of the others. There may be a third ...

Mattygroves2 wrote: »

We sold quite easily by sending the brokers the probate information. They simply sold, took their commission, a closure of account fee and then transferred the cash. But they were all in a brokers account in one place.

Whereas these seem to be a bit all over the place ...

Mattygroves2 wrote: »

I suspect you'll find they are simply sold and you get the cash but best to ask them direct.

I'll phone if I have to but it's not always easy for me to do so. Plus my co-executor is the one working the papers, but they struggle to use the phone, so I need to work out what it is I have to find out.

Mattygroves2 wrote: »

Be aware that you may have a CGT liability if their value has risen since date of death but there is an executors allowance.

Yes, aware of that. We are selling reasonably promptly so I think we'll be safe there!

getmore4less

Does anyone want them, I took over all my parent holdings into my nominee accounts at no cost.

a non beneficiary could pay for them at market value into the estate if someone you know wanted them to save the costs.

ferger

Be conscious that there is a difference between shares being held in a brokers nominee account on behalf of the deceased (likely to be straightforward) and the shares being held on certificate (have to deal with the registrar to transfer, they're all different in their practices, some of them are hopeless). My Dad has a number of holdings on certificates with Equiniti as registrar - and I am distinctly unimpressed with them. (Fail to send things they allude to as 'enclosed' in letters, offer to 'value the shares to make life easier for you' - at £18 per holding, have a Bereavement Helpline, which costs 8ppm [find the 0207 number for 'international investors]).

CGT isn't impossible, even in a short timeframe - my Dad's holdings have put on about 12% since he passed just over two months ago...

Savvy_Sue

ferger wrote: »

Be conscious that there is a difference between shares being held in a brokers nominee account on behalf of the deceased (likely to be straightforward) and the shares being held on certificate (have to deal with the registrar to transfer, they're all different in their practices, some of them are hopeless). My Dad has a number of holdings on certificates with Equiniti as registrar - and I am distinctly unimpressed with them. (Fail to send things they allude to as 'enclosed' in letters, offer to 'value the shares to make life easier for you' - at £18 per holding, have a Bereavement Helpline, which costs 8ppm [find the 0207 number for 'international investors]).

Thanks. I have no idea how things are held, and it's possible some are held one way, some another. I should see my co-conspirator soon so hopefully we can go through things in such a way as my addled brain can take it in.

ferger wrote: »

CGT isn't impossible, even in a short timeframe - my Dad's holdings have put on about 12% since he passed just over two months ago...

I suspect from your other threads that your family's assets exceed mine, by some margin, but obviously we'll be aware of the possibility.

susansday

I am trying to post a question asking how to transfer shares from my new husband to me. I have scoured the FAQs and watched endless videos but can find no trace of the New Thread button which supposedly lurks at the top and bottom of each page. Please help!

Savvy_Sue

susansday wrote: »

I am trying to post a question asking how to transfer shares from my new husband to me. I have scoured the FAQs and watched endless videos but can find no trace of the New Thread button which supposedly lurks at the top and bottom of each page. Please help!

Welcome.

You need to be on the 'board' rather than in a thread, I'd suggest the Savings and Investment board. You'll be able to see the 'New Thread' buttons there, honest.

Pont

Interesting thread as, unfortunately, I find myself in the position of executor of my late father's estate.

Dad had shares all over the place, ISA's all over the place and multiple savings accounts. I need to transfer all assets to mum. I'm coming across numerous shares held via Equiniti and others with Eberola (?).

I'm having to apply for probate but how can I determine the value of these different shares (for probate purposes) without, for example Equiniti releasing their information to me (which I can't find out before probate is granted)? I seem to be going around in circles!

I'd be really interested in knowing how others have dealt with this. Is it the case of writing to ALL companies that I'm coming across and asking them for statements of accounts held? I can provide copies of the death certificate and dad's will (which shows everything left to mum and me as executor).