LOA Application and IHT Forms

drivememad

Hi,

I think I have traced the bulk of the assets of my relative who has recently passed. There are potentially some small insurance policies which I still need to sort through and establish if they have been surrendered or if anything is due to the estate.

Does anyone know if I can make my application for LOA and IHT now or do I have to wait until I have exhausted all my enquiries?

I also found an uncashed cheque from 2010 re some shares that were sold by the registrars?? when the company was being taken over. In 2012 there was a letter from ProSearch asking for him to contact them re the monies as the cheque hadn't been cashed - which is looks like he didn't. They have told me the proceeds of the sale is likely to have been forfeited due to time passed? I assumed it would be like banks where unclaimed funds are held, although I know as the complany doesn't exist it won't be the same but you think the proceeds would be held somewhere and not just disappear. It's £110K so not an amount I can really ignore.

Any help or advice will be greatly received. Regards

Keep_pedalling

I know that if this was a US company then after a certain period any unclaimed funds end up being forfeited to the government after a certain period.

What company was it?

drivememad

Keep_pedalling wrote: »

I know that if this was a US company then after a certain period any unclaimed funds end up being forfeited to the government after a certain period.

What company was it?

It was Exel who were tken over by Deutsche Post I think?

Keep_pedalling

drivememad wrote: »

It was Exel who were tken over by Deutsche Post I think?

I think you need to contact the registrars. Where cheques are not cashed for dividends I believe companies must hold these in trust For 12 years, and I suspect it is the same for sold shares, so the money should still be there to claim.

drivememad

Keep_pedalling wrote: »

I think you need to contact the registrars. Where cheques are not cashed for dividends I believe companies must hold these in trust For 12 years, and I suspect it is the same for sold shares, so the money should still be there to claim.

Thank you for your advice, I'll write to the registrars, I think the early correspondence I've found indicates that this was Equiniti

Keep_pedalling

drivememad wrote: »

Thank you for your advice, I'll write to the registrars, I think the early correspondence I've found indicates that this was Equiniti

I have found them OK in the past, but you will probably need to get LOA before they will do any serious dealings with you. If you have to use estimated figures in apply for LOA that is OK, corrections can be made later if they effect IHT.

Why would someone not cash £110k?.

drivememad

I suppose I'll never know.
Over the years there have been various letters regarding proof of identity. He didn't have a driving licence or passport so I don't know if that had anything to do with it. Although if they sent a cheque that's just a simple transaction and just needs to be paid in. I suppose potentially he could have contracted the registrar's directly but I can't trace the proceeds in any account. He could have sharegifted it I suppose.
I'll get the LOA and IHT applications started and put.some estimates against the assets.
Thanks again for your help