Advice about a deceased persons company shares

Bookie_monster

Hi

my mother passed away last year and most of her will has been sorted apart from allocating her company shares, she has shares in the family business which she wants to split equally between her siblings, the directors are ok with this and do not wish to purchase the shares, is this difficult to do without professional help? the solicitors dealing with the will want to charge us another £750 on top of what they are already charging us for doing this, any advice gratefully received

Yorkshireman99

Bookie_monster wrote: »

Hi

my mother passed away last year and most of her will has been sorted apart from allocating her company shares, she has shares in the family business which she wants to split equally between her siblings, the directors are ok with this and do not wish to purchase the shares, is this difficult to do without professional help? the solicitors dealing with the will want to charge us another £750 on top of what they are already charging us for doing this, any advice gratefully received

What is the charge for? Surely the shares have to have been valued for probate so it is just a question of getting the company secretary to tell the solicitor what document he needs to prepare to do this. Shares in small private companikes can be hard to value becuase there is no open market like shares quaoted on a stock exchange.

Bookie_monster

Hi
The charge is for changing my mother's shares into the names of her siblings and contacting companies House, I believe. Thanks

Yorkshireman99

Bookie_monster wrote: »

Hi
The charge is for changing my mother's shares into the names of her siblings and contacting companies House, I believe. Thanks

Sounds like a total ripoff. The Coimpany secretary has to sed the forms to to CH. Surely that does not need the solicitor.

Bookie_monster

thanks for your help yorkshireman. I'm struggling to find anything on the internet as there is so much stuff out there but finding anything similar is hard, went to another solicitors today to get a quote and just waiting for them to get back,

Yorkshireman99

I see no reason for a solicitor to be involved at all. Ask the company secretary for advice.