Lloyds shares with Equiniti

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TheBanker said:

The only way to avoid these fees is to obtain a Grant of Probate. It wouldn't be worth obtaining Probate to save £85 I don't think, but if you need to get a Grant of Probate for other reasons, I thin this would allow you to avoid the £85 fee. That is presumably why I didn't have to pay for my dad's shares to be transferred - I had a Grant of Probate which I needed due to the value of his other savings. 

Yes, that was also the case for me.

P933alilli

TheBanker said:

P933alilli said:

I contacted Equiniti to notify them of my Mum's passing and they said to use their small estate declaration and indemnity form. There is an admin fee of £50 and a countersignature waived fee of £35 for the one holding.

 However ive just found a letter dated October 2013 addressed to Mum to say that the shares are held electronically in the CNS, therefore no share certificate will be issued! It was a letter to say that the shares had been transferred to her from the previous holder which was my Dad.

I see. If you're using the Small Estates process then those fees will apply I think, they are for registering the death rather than for transferring the shares. The shares are worth about £377, if they were less than £200 the £50 admin fee would be waived, and if less than £100 the £35 fee would also be waived. 

The only way to avoid these fees is to obtain a Grant of Probate. It wouldn't be worth obtaining Probate to save £85 I don't think, but if you need to get a Grant of Probate for other reasons, I thin this would allow you to avoid the £85 fee. That is presumably why I didn't have to pay for my dad's shares to be transferred - I had a Grant of Probate which I needed due to the value of his other savings. 

Thanks, that makes sense!