Question about jointly held shares

liveandlearn_2

Hi,
I'm acting as executor for my late father.
I'm hoping someone has come across something similar and can give me a heads up.
I've come across annual summaries of dividends paid on shares that he appears to have held with his ex wife, which he never cashed in, presumably because they no longer had a shared account after the divorce.
I've written a letter to the investment company with death certificate and grant of probate requesting full disclosure.
What is likely to happen?
Would the shares be shared between his estate and his ex wife, or would they all go to his ex wife? Not at all a problem if that's the procedure, I don't think anyone would contest it, but she hasn't been left anything in his will at all.
I'm thinking they'll require a copy of the decree absolute, a copy of the will, her bank details and mine as executor's? 
Can dividends which haven't been cashed be reissued? We're talking 20 years here!
I'm crossing my fingers that this will be the last administrative muddle to untangle before I can say that his affairs are finally all settled.

Savvy_Sue

Are you able to hold a conversation with ex wife? Her not receiving anything in the will is not unusual, she's an ex for a reason and there should have been a financial arrangement before the Absolute was issued. 

But what I'm thinking is that if she may be able to give more clarity? 

Keep_pedalling

Rather like a joint bank account the shares would normally pass the the serving account holder.

HobgoblinBT

OP, sorry for your loss.  My experience dealing with some jointly owned share certificates was that upon the death of one joint holder they were transferred to the survivor.  As to dividends, a Google search should reveal the registrars of each company.  Each will have their own process for the reissue of uncashed dividends.  A phone call is advised as the registrars that I checked with for ftse100 companies included uncashed dividends I was unaware of.  They charge a fee per reissued dividend. 

liveandlearn_2

Thank you all.
Yes, no problem contacting his ex wife. 
I've just read through the financial arrangement.
House, pension were both mentioned but nohing about the shares.
I can only think that at the time of the divorce they must have been worth very little so not thought of as important.
They're worth several thousands now though, so well worth having.
I'm more interested in who will actually have to deal with the admin side of things really.

Keep_pedalling

liveandlearn_2 said:

Thank you all.
Yes, no problem contacting his ex wife. 
I've just read through the financial arrangement.
House, pension were both mentioned but nohing about the shares.
I can only think that at the time of the divorce they must have been worth very little so not thought of as important.
They're worth several thousands now though, so well worth having.
I'm more interested in who will actually have to deal with the admin side of things really.

His ex as she is now the sole owner of the account. Half the share do however form part of his estate for IHT purposes so do need to be declared ob the IHT return if you are having to do one. 

wmb194

liveandlearn_2 said:

Can dividends which haven't been cashed be reissued? We're talking 20 years here!

Usually there's a time limit for claiming them after which they're forfeited to the company in question, often six years.