When a share portfolio forms part of an estate..

pimento

.. when do the shares get sold and by whom?

If a person's estate contains a house, some money and a share portfolio and has to go to probate, I know that the value of the shares for probate are as they were at the death date but when are the shares sold and who sells them?

Thank you

Keep_pedalling

Depends of the wording of the will. If the shares are left to a named beneficiary, the executor can simply transfer the shares to that beneficiary or if the beneficiary is not interested in owning the shares, the executor can sell them and pass the proceeds to the beneficiary.

if will makes no mention of the shares then the executor sells them and distributes the proceeds according to the will. It is possible the estate will have to pay CGT if the value has increased significantly between the date of death and the date of sale.

pimento

Thank you.  I'm not sure about the wording of the will and I never knew that share ownership could be transferred.  I've learnt something today