My late mum's Stirling Mortimer land fund

sclare

My late mother was mis-sold a £50k investment in Stirling Mortimer land fund 9, some years ago. Her estate has finally been concluded and the final disbursements are being made. But this closed-ended investment is left with us having no idea what to do with it.

I've not posted on the wills board because my question is not related to the will, but asking whether it has any value at all. Getting it transferred to us is a pain, and to be honest on my death or if I need care, I don't want my kids to have to deal with the complexities of owning the damn thing (which has been a huge complicating factor re mum's care costs, and in the two years it's taken to get to the end of managing the estate)

It was valued at £15k for probate, based on the share price. But that cash isn't available to us, and I'm starting to think that nothing ever will be.

Does anyone know anything about this fund and whether anything will ever come of it? Would you go to the trouble of transferring it, or just give up on it?

I'm so knackered after a terrible couple of years dealing with the estate (there's a very long story involved) and I'm tempted to walk away from it. Would that be stupid?

Thanks

Marcon

How did she hold the investment - directly, or in a pension such as a Self Invested Personal Pension?

sclare

https://forums.moneysavingexpert.com/discussion/comment/81990245#Comment_81990245

Directly. Sorry, I put this in the pensions forum because when I googled i discovered that Stirling Mortimer investments have been discussed here before, and people on this branch seem knowledgeable.

QrizB

Directly. Sorry, I put this in the pensions forum

Many of the folk from the Savings & Investments forum also visit Pensions, so it's unlikely to make a huge difference.

If you think the thread would be better over there, there's a little red flag icon at the bottom of your initial post where one of the options let's you ask that it be moved.

sclare

https://forums.moneysavingexpert.com/discussion/comment/81990325#Comment_81990325

Thank you. I looked at that branch, but it seemed to be mostly about savings accounts.

Thanks for the information about moving it.

Marcon

https://forums.moneysavingexpert.com/discussion/comment/81990316#Comment_81990316

I wasn't criticising your choice of where to post! Your answer to my question mattered because had the holding been within a SIPP or other pension scheme, you wouldn't have had the option of just walking away from it.

I'm so knackered after a terrible couple of years dealing with the estate (there's a very long story involved) and I'm tempted to walk away from it. Would that be stupid?

If you have the luxury of choice, then it's a case of finding out your options and exercising the one which is most important to you. If this particular holding is making your life a misery and the executors can indeed just 'walk away', then only you can know whether that's the right option for you. Sometimes in life maximising the cash - or the possibility of future cash - isn't going to be that 'right option'.

wmb194

https://forums.moneysavingexpert.com/discussion/6667295/my-late-mums-stirling-mortimer-land-fund

So what's happened? The fund's administrator (Ocorian in Guernsey?) won't transfer the fund into your name?

What's the background? Is the fund in administration?

www.stirlingmortimer.com/index.php/stirling-mortimer-funds/uk-land-fund-2-no-9

https://find-and-update.company-information.service.gov.uk/company/OE009420

https://find-and-update.company-information.service.gov.uk/company/05573185/filing-history

https://www.gfsc.gg/commission/regulated-entities/2006014

https://www.ocorian.com/knowledge-hub/news/ocorian-merge-estera-be-one-largest-administrators-globally

sclare

https://forums.moneysavingexpert.com/discussion/comment/81992038#Comment_81992038

They will, but it's a painful process, and it seems that just holding this investment is a millstone. Its closed-endedness caused all sorts of problems when my mum's liquid funds ran out. The council wouldn't pay for her care because in theory she had £50k invested in this fund, and it's been a constant problem.

My brother and I are both well into retirement age, and are nervous about holding this poisoned chalice! We could do with the cash, but I suspect we'll never see it.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81992755#Comment_81992755

If you don't want to pass this to your children another option might be to gift the shares to charity e.g., Sharegift.

https://www.sharegift.org/donate-shares-to-charity/