Shares

dalip

My father in law died recently and left some shares and no will. We need to apply for a letter of administration in order to get the shares transferred to us to then sell. He left no money only debt and before we go through this lengthy process we would like to know if the shares are actually worth anything. The letter back from the company requesting a LOA states there are 195 ordinary 25p shares and a further 30 ordinary 25p shares held with Morgan Advanced Materials PLC. Thanks for any help with this

Yellow_mango

Google suggests that these shares are currently trading at around £2.63 per share. So 225 shares would be worth just under £600.

Keep_pedalling

Personally I would not apply for LoA on an insolvent estate. If you are not careful you could end up being responsible for the estate debts.

Simply write to the creditors informing them of the death, telling them the estate is insolvent and neither you are anyone else is administering it.

dalip

KP thanks we have already notified everybody that he died insolvent and have had a couple of his debts written off already. If we apply for LOA does that then make us liable for his debt?? So far I have had letters from Rent, tax and Barclays saying we are not liable for any debts left when he died.