Shares and probate

What are assets and liabilities in probate? Can executor sell shares? Is selling shares taxable? Are Pensions included in probate valuations?

If you already have the right or have probate (as an executor or administrator) you can start dealing with the estate.

You may need to apply for the right to deal with the estate of the person who. Probate and shares. Often dealing with someones shares after they have died can be confusing. The starting point is to understand the basics behind all shares.

The issue of shares is typically undertaken by a share Registrar. In the UK the two leading share registrars that manage most PLC’s share certificates are Equniti and Capita. These two companies will deal with the issue of share certificates as well as the sale or transfer of shares.

Most commonly a person will hold property , bank accounts and shares. If an estate is subject to probate , the executor will need to obtain valuations for the assets. This is to give the correct information to HMRC.

All worldwide assets, such as cash and investment accounts, ISAs and shares , are valued as at the date of death, but are not distributed until probate is granted. Taxes are also normally paid based on the date of death values. However, the actual value at distribution is often different, as investments can fall, as well as rise, in value. The tow largest share registrars are Equiniti and Capita.

They are the share registrars for most PLC’s and as such are responsible for the sale and transfer of shares. Estates worth less than £0pay no fee. Additional copies of the probate form can be ordered for £1.

First of all, you will need to inform the respective share registrars that the former shareholder is now deceased. When probate is not needed. You may have to pay Inheritance Tax on money and shares you inherit if the deceased person’s estate can’t or doesn’t pay. HM Revenue and Customs (HMRC) will contact you if you need to pay. Grant of probate, if the shares are in excess of £000.

If below this amount then they will typically send a small estates form, requesting a copy of the will, completion of the form, and death certificate.

We will liaise with the share registrar on your behalf, obtain values of the shares and include this in the Inheritance Tax calculation. Shares and Resealing probate how to release, transfer or sell shares of a deceased person outside the UK If the Deceased held shares then you will often notice various paperwork from a company called Computershare. Initially, we’ll need the original death certificate (or coroner’s certificate) and a covering letter confirming the Executor(s) of the Estate.

The shares will be transferred to and all payments made in the joint names (N.B. a bank account in the joint names will be necessary). For shares held in joint names the address given for the first named Executor will be recorded as the registered address for all future communications. By Simon Lambert for Thisismoney. I am trying to find out if the draft value was used for probate.

Is it necessary to value shares in an unquoted company if they are inherited by a spouse? I don’t have access to the probate documents and the wife is too drowned in admin to help. If one would have been included in the estate then I will pursue so any assistance would be helpful.

In most cases, the executor will be a family member or friend of the deceased.