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My mother left some shres in her will to myself and my sister.Can we divide these equally and put them in our respective names?...
Question
My mother left some shres in her will to myself and my sister.Can we divide these equally and put them in our respective names? - Posted by Richard Ll Jones
Answer
ANSWER 16th August 2010
Hi Richard,
Yes. Presumably the will has been proved and you have obtained Probate. And I assume you are an executor or sole executor. The probate will have to be lodged with each company's Registrar (they need a sealed copy). The Registrars will tell you what they need although it is quite straightforward. If there is no Probate you need to complete an exemption form for small estates.
As to the portfolio of shares you could either hold them jointly, sell them jointly or split them equally. It depends on their values and whether either wants to keep them etc. It may be more expensive if you split each holding and then sell them (two lots of commisssion). Capital Gains Tax may be payable if there is a profit between the selling priice and the probate valuation.
Please contact me if there is anything more specific you require or further help.
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