What is the procedure when the shareholder dies and the beneficiary under his will is not a partner or relative. Note should it affect the answer the beneficiary is also one of the executors.
I don’t know what happens but I have updated my will to include all the stuff I have invested in just in case
Get probate done, pay IHT, when probate finalised will have a proof. You will need a copy of the death certificate (it is usually worth paying for extra copies as financial institutions usually want an original). As executor contact the institution and ask for their relevant forms to transfer ownership for a deceased person. They will say what documents are required. There will be a long list as you will have to prove both that the deceased is dead, probate has been granted, their ID, your authority as executor, your ID & address etc, and your entitlement as beneficiary.
I have no legal training this is just from my sister’s experience.
Suppose the partner or relative would be getting a big fat 0
I’m guessing you would need to talk to a lawyer on that note…
I really hope this community doesn’t scale into a Yahoo Answers for finances where people who don’t have a clue about something have a wild guess off the top of their heads?
The executor of the deceased’s estate would just need to contact Crowdcube and follow their guidance from there. I don’t think it would be vastly different to a normal share sale apart from proving they have probate and a death certificate etc. Definitely worth contacting Crowdcube if you want the full, factual answer to this.
Thanks rarther. I will do that now