Few investment management firms now provide this facility, but we consider it to be a valuable service to private client solicitors and/or executors, many of whom appreciate that we are best placed to carry out this element of estate administration, efficiently and economically.
We can offer initial financial advice for executors, beneficiaries and trustees, at no obligation or cost; provide an ongoing discretionary provision or simply assist in the winding up of an estate.
Detailed below are our most common undertakings:
Registering the Death / Grant of Probate
As part of our Deceased Estate Service, we would lodge the Death Certificate and/or Grant of Probate free of charge with the appropriate registrars.
Upon receipt of a certified copy death certificate and documentation relating to possible shareholdings (certificates, statements, tax vouchers, letters etc.) we will verify shareholdings with each registrar and then provide a probate valuation. This will include details of any relevant historical holdings.
We can prepare an income schedule from the start of the tax year to date of death. We can provide announced dividend rates but are unable to confirm if any payments are due to the estate until Grant of Probate has been granted.
Obtaining Duplicate Certificates / Letter of Indemnity
Apply for Letters of Indemnity to reissue lost/destroyed certificates.
Obtaining Duplicate Cheques / Changing Payee
Apply to reissue cheques in favour of the solicitors for any lost/destroyed cheques.
Upon receipt of the sealed office copy Grant of Probate, we can lodge probate with each Registrar and prepare paperwork for the disposal (or part disposal) of holdings.
In our experience, takeovers of UK quoted companies like Cable & Wireless and Cadbury Schweppes have caused problems for executors/solicitors as foreign registrars’ demands often result in additional administration. Where necessary, we can administrate foreign assets by obtaining Medallion Stamp Guarantees and Australian Indemnity Bonds.
We can hold stock in our nominee company to enable the use of annual capital gains tax allowances.
Transfers to Beneficiaries
Should executors decide to transfer any shareholdings, we can prepare the required documentation and obtain new certificates, duly registered in the name(s) of the beneficiaries.