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.
Notifying the share registrar
After someone has died the first step is to notify the share registrar, they will typically request the Death Certificate together with confirmation as to the named Executor of the will. If the shares are valued at under £5,000 then a small estates form will often be sufficient, this will request various information together with a request that the original share certificates be returned. If they cannot be located then an indentify form will need to be completed and a fee paid
All shares have to be valued and their value inserted on the Inheritance Tax return. The value is at the date of death.
If the shares are low in value and no IHT is due ascertaining the share value is relatively straightforward, as finding out the exact share price on the date of death can be found online. The number of shares owned by the deaceased will be on the share registrars documentation. You should also check with the share registrars, as to whether there had been any dividends paid, or rights issues that may effect the share price. If you wish to have the share professionally valued then there are plenty of companies such as Share data that provide such services for a fixed fee
Need help with probatefor shares ?
Call our probate helpline on: 0844 7400948