Shares inheritance

lawrenson

Hi,
My uncle had numerous shares. When he died he left no will, but he was married with no children and everything went to his wife.
She has never moved the shares into her name, and does not intend to. 
When she passes will it be fairly easy for them to be transferred to her beneficiary please? (She has made a will).

Cheers 
Kal

Hoenir

Are the shares held in paper certificate form? 

Keep_pedalling

It will complicate things for her executor a little. 

retiredbanker1

Yes but will be more complicated. Do you know how much the shares are worth - is Inheritance tax a possibility here?

Keep_pedalling

The best option here would be for whoever administered her husband’s estate would be to sell them and transfer the cash to her, individual shares are high risk investments.

Did anyone apply for probate for him? If not and the shareholding has significant value it will be needed to do anything with the shares.

retiredbanker1

Keep_pedalling said:

The best option here would be for whoever administered her husband’s estate would be to sell them and transfer the cash to her, individual shares are high risk investments.

Did anyone apply for probate for him? If not and the shareholding has significant value it will be needed to do anything with the shares.

What if the shares are providing the wife with dividend income??

lawrenson

Hi
Thanks for the replies.
Yes her benefactor will pay inheritance tax.
My uncle died around 10 years ago.
She still has some of his bank accounts open too.
I have no idea on the shares value sorry.

Cheers,
Kal

lawrenson

Oh and yes they are in paper share form

Keep_pedalling

lawrenson said:

Hi
Thanks for the replies.
Yes her benefactor will pay inheritance tax.
My uncle died around 10 years ago.
She still has some of his bank accounts open too.
I have no idea on the shares value sorry.

Cheers,
Kal

Are you saying his bank was never informed of his death? I don’t envy her executors task of sorting that mess out. 

lawrenson

Correct. His banks were not informed of his death.
A friend suggested that the government could claim his shares but I don't think that's true?

Keep_pedalling

lawrenson said:

Correct. His banks were not informed of his death.
A friend suggested that the government could claim his shares but I don't think that's true?

That is not true, but this should not be allowed to go on.  Does someone have power of attorney for her?