Sell or Encash

Simbasdad

Just been granted probate, my late fathers estate includes shares in paper format, the solicitor dealing with the estate has asked if we would like to sell or encash the shares and will not offer any  advice or explanation. Please could I ask what the difference is please.

tetrarch

This is a very strange way of putting your options. Your solicitor is not ALLOWED to give investment advice so that part is correct.

You really have two options:

a)   Retain the shares in your name

b)   Sell the shares (which is encashment to my mind)

Assuming that option b is your preference you could let the solicitor sell the shares on your behalf but this is likely to be terrible value-for-money with all the charges for his time and any intermediary costs.

The best value way is to ask for the solicitor to hand the certificates to you and...

i)    Transfer the shares into your name (free - just get a (downloadable) Stock Transfer Form from the registrar(s))
 
ii)   Open a brokerage account (ii etc)

Once you get the new certificates:

iii)  Deposit the certificates into your online account (a new form from the broker)

iv)   Sell the shares

This may sound complicated but it is just form-filling and help is available here if you want it

Regards

Tet


PS You can also get the registrar to sell the shares for you, but this is also very commission-heavy

[Deleted User]

Hi,

if you want to sell the shares you will be cheaper using Execution Only share dealing, X-O.co.uk, only £5.95 a deal.

You would first need to open an account, free, then download a form for each lot of shares.

Look HERE at questions 2 and 5.