To Transfer or Sell (share beneficiary)

Quarkrad

Apologies if this has come up before. I'm a little confused. Executor of will and have probate - need to liquidate small amount of shares (7K) to three people nominated in will.  Seems easiest option is to fill out sale form and let Equinity sell shares and send check.  But I keep reading 'don't do this - transfer them' to avoid fees. (Due to up to £50 per certificate - there are 13 of them).  From what I can make out I transfer them to the executors/beneficiaries of the will and then sell them later through a different organisation than Equinity.  As I have to sell them at some stage (soon) is, what appears hassle, transferring them worth it?  There will still be a selling fee no doubt - I cannot work out what sort of saving I could potentially make.  (None of the beneficiaries want to keep the shares),

george4064

Sounds like you should consult with the beneficiaries and agree with them that its best to sell the shares and split the proceeds according to the % in the will. I guess it’s worth highlighting (although pretty obvious) that a dealing commission will occur when selling the shares, but one dealing charge is obviously much better than (dealing charge x number of beneficiaries).

Eco_Miser

Do you have certificates, or are the shares held by a nominee company. If the former, https://x-o.co.uk/ will accept the certificates (free) and then you can sell them for £5.95 per company.

Quarkrad

All the beneficiaries are in agreement to sell - equal share each. Are you saying it is better to transfer the shares to one of the beneficiaries and then only one person sells the shares?  That single person can then share out the money from their personal account.

Keep_pedalling

Quarkrad said:

All the beneficiaries are in agreement to sell - equal share each. Are you saying it is better to transfer the shares to one of the beneficiaries and then only one person sells the shares?  That single person can then share out the money from their personal account.

That would be a foolish thing for an executor to do, as you would be responsible for the losses if the one person skipped off with the money. You do the selling and distribute the cash.

Thrugelmir

As executor of the estate you liquidate the holdings then add the proceeds to the pot that's eventually distributed to the beneficiaries.