shares on death

superref

Can anyone help. My husbands father recently died and left him several lots of utility shares (bought in 1980's and 90's). Do we have to transfer them into my husbands name to sell them? if yes how?!
Do I have to approach a stockbroker to sell or can I do it?

thanks

Jake'sGran

superref wrote: »

Can anyone help. My husbands father recently died and left him several lots of utility shares (bought in 1980's and 90's). Do we have to transfer them into my husbands name to sell them? if yes how?!
Do I have to approach a stockbroker to sell or can I do it?

thanks

Your husband cannot transfer them into his name now. Your FinL should have done it before he died. They will need to be sold and your husband can buy them in his own name or use the cash some other way. To sell them you can find a broker on line or in the high street (Nat West have a good service I believe)and you will need to provide evidence of the death of the original holder which, I imagine, will be a copy of the death certificate. If you were buying shares there are some cheap brokers on line but I am not sure who is the best for selling them.

I am not an expert so if I have got something wrong no doubt someone else will put it right. But I am sure the shares cannot now be transferred into your husband's name.

mk-donald

You will get most/cheapest help from speaking to the Utility companies share registrars themselves as you're not the first and won't be the last person in this situation.

The situation may be complicated as to whether the estate is large enough or contains things that require 'Grant of Probate' to be obtained so the estate can be dealt with - with a formal 'executor' whose responsibility it is to see the estate is dealt with in accordance with the will (or any variation agreed by the main beneficiaries) if I remember my law studies correctly - or is small enough (as for instance my father's estate was) for a personal representative to deal with it all - typically with a handful of copies of the death certificate to present to people.

For example Centrica plc have help on this specific subject at:
http://www.centrica.com/index.asp?pageid=708

Shareview, one of the big registrars, have generic advice for shares they register:
https://www.shareview.co.uk/asp/faq.asp?#DEATH

eg "If the estate is small, with relatively few assets, and you do not need to obtain a grant of representation, many companies have special arrangements designed to make things easier for the family of a deceased shareholder to sell or transfer the shares."

System

They can be transferred, see the thisismoney site

CLAPTON

superref wrote: »

Can anyone help. My husbands father recently died and left him several lots of utility shares (bought in 1980's and 90's). Do we have to transfer them into my husbands name to sell them? if yes how?!
Do I have to approach a stockbroker to sell or can I do it?

thanks

The executors need to obtain probate and pay any IHT before the assetts can be disposed of.
Once probate is obtained the shares can either be sold or transferred.
Unless the estate is less than 5k.

localhero

The executors should have completed a stock transfer form or asked whether your husband wanted them sold.