Shares & Probate

Options
Thespur
Thespur Posts: 5 Forumite
in Savings & investments
Hi All,

I am the executor of my grandmothers will and I am currently sorting through savings accounts, ISA's, pensions etc but she also had some shares.
I've looked on LSE website and although I can see the prices, I'm not 100% sure what I am actually looking at as I need to establish a value of them all.
Can anyone help me decipher them please?
Lloyds Bank - 869 Shares
Carnival PLC - 300 Shares
Newcastle Building Society (mentions something about 10 3/4 PIBS?) - 5000 Shares (or PIBS)

Another question, and this may sound really stupid, does a state pension just cease now that she has passed or is there a lump sum to be paid out on her death?

Thanks fro your help
Paul
«1

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Name Dropper Photogenic First Anniversary First Post
    Options
    Sorry to hear of your loss.

    What was the date of her death?
  • Thespur
    Thespur Posts: 5 Forumite
    edited 19 June 2018 at 8:14PM
    Options
    Thank you.

    27th May
  • xylophone
    xylophone Posts: 44,422 Forumite
    Name Dropper First Anniversary First Post
    Options
    https://www.moneyadviceservice.org.uk/en/articles/what-to-do-about-someones-pension-when-theyve-died

    https://www.litrg.org.uk/tax-guides/bereavement-and-tax/how-do-i-assess-estate-inheritance-tax-purposes


    You want the closing value of the shares at the date of death - as this was a Sunday take Friday 25th?

    https://www.sharesmagazine.co.uk/shares/share/LLOY/historic-prices

    https://www.sharesmagazine.co.uk/shares/share/CCL/historic-prices

    Here is the latest price for the Newcastle 10 3/4 PIB

    http://www.hl.co.uk/shares/shares-search-results/n/newcastle-building-society-10.75-pibs

    but for 25 May you might check the Financial Times for that date at your local library or try LSE list?
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    First Anniversary Name Dropper First Post Photogenic
    Options
    Not only is there not a lump sum paid out after death, you will likely find DWP will want a refund for pension paid out after death.
  • Thespur
    Thespur Posts: 5 Forumite
    Options
    xylophone wrote: »

    but for 25 May you might check the Financial Times for that date at your local library or try LSE list?

    Thanks Xylophone, how do I read the numbers though? Stupid question probably but want to make sure I am correct.
    • Are they quoted in pence?
    • Are they per share?
    The Newcastle BS shares show prices in pounds, is that per share or per 1000?

    The prices on 25th May were as follows, are my calculations correct?
    • Lloyds - 65.67 x 869 = £570.67
    • Carnival - 4935 x 300 = £14,805.00
    • Newcastle BS - £166.50 x 5 (if quoted per 1000 shares) = £832.50

    Thanks
    Paul
  • Thespur
    Thespur Posts: 5 Forumite
    Options
    AnotherJoe wrote: »
    Not only is there not a lump sum paid out after death, you will likely find DWP will want a refund for pension paid out after death.

    Thanks, that's what I thought. I have completed the tell us once service so hopefully there won't be too much to refund.
  • grey_gym_sock
    grey_gym_sock Posts: 4,508 Forumite
    Options
    Thespur wrote: »
    The prices on 25th May were as follows, are my calculations correct?
    • Lloyds - 65.67 x 869 = £570.67
    • Carnival - 4935 x 300 = £14,805.00

    those 2 look about right.



    • Newcastle BS - £166.50 x 5 (if quoted per 1000 shares) = £832.50

    i'm pretty sure that one's £166.50 per 100 shares, so a total value of £8,325.00
  • xylophone
    xylophone Posts: 44,422 Forumite
    Name Dropper First Anniversary First Post
    Options
    Newcastle BS - £166.50 x 5 (if quoted per 1000 shares) = £832.50

    No - see Prospectus

    https://www.fixedincomeinvestor.co.uk/sdoc/3051.pdf

    NEWCASTLE
    BUILDING SOCIETY

    £10,000,000
    10 3/4 per cent. Permanent Interest Bearing Shares

    Application has been made to The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited (the "London Stock Exchange") for the issue of £10,000,000 10 3/4 per cent. Permanent Interest Bearing Shares (the "PIBS"), comprising 10,000 PIBS of £1,000 each, of Newcastle Building Society (the "Society") to be admitted to the Official List of the London Stock Exchange.

    The listing of the PIBS will be expressed as a percentage of their principal amount (excluding accrued interest).

    It is expected that the PIBS will be admitted to the Official List subject only to the allotment of the PIBS,and dealings are expected to commence on 23 June 1993.

    Issue Price: 100.317 per cent.

    So the calculation would be 5000 x 1.665
  • badger09
    badger09 Posts: 11,211 Forumite
    First Post First Anniversary Name Dropper
    Options
    Thespur wrote: »
    Thanks, that's what I thought. I have completed the tell us once service so hopefully there won't be too much to refund.

    My very recent experience is that DWP are the slowest to deal with the ‘Tell us once’ notification.

    You should be able to work out if there is any refund due. My sister died 3 March & we notified 15 March (earliest possible, due to PM). Her pension was paid 23 Feb & 23 March & I have had to repay 3 week’s overpayment.

    I had to chase DWP several times to get this figure:(
  • Thespur
    Thespur Posts: 5 Forumite
    Options
    Thanks everyone. My next challenge is ISA's...:laugh:
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards