When non-UK shareholdings and assets have a value so that an informal procedure such as a ‘Small Estate Procedure’ cannot be used, it is necessary to obtain a probate or equivalent in the jurisdiction in which those shareholdings and assets are situated. Where those assets are situated in jurisdictions within the Commonwealth, or in certain circumstances formerly so, such as …
What do you do with offshore assets?
Should you have faced the scenario of finding evidence of an asset which is not located in your legal jurisdiction in the administration of an estate, you will know that there can often be complications involved in dealing with that asset. Even those who have met this before are often tempted to ‘park’ the offshore asset whilst dealing with more …
Lost Share Certificates – Countersignatures.
Have you lost a share certificate? If the paper share certificate is lost, then usually the share registrars (being frequently Computershare or Wells Fargo for USA shares) will ask for an Indemnity Bond which usually costs about 3% of the current value of the shareholding. In the case of U.K. shareholdings, a countersignature will be asked for and again this …
Business Case – Dealing with a Deceased’s Estate
May 2016 We recently received a request from the Solicitors dealing with a deceased’s estate. They were presented with a bundle of paperwork involving shares, funds and bank accounts held by the deceased. It seems that the late Mr X did not like to throw anything away!!! Among the paperwork there were share certificates for companies that no longer existed, funds that …
Assorted Companies
Hewlett Packard share split in November 2015 divided into Hewlett Packard Inc and Hewlett Packard Enterprise Inc and shareholders received an equal number of shares in Hewlett Packard Enterprise Inc. Verizon / Vodafone – the closure of the Verizon Nominee Account at Computershare, Bristol has caused all former Verizon shareholders to have their shares moved to Computershare …
How to deal with ARRIS shares following the Pace Plc Takeover
How to transfer new ARRIS shares into a DTC Following the takeover of Pace Plc by ARRIS International early this year, the resulting new shares either have to be held in certificated form (which is not recommended) or the new ARRIS shares must be transferred to a DTC account. Not all stockbroking firms have the DTC facilities, and as …
Selling US Shares
Selling US Shares can be tricky In order to sell any US shares owned by a deceased, the executors of the Will first have to have the shares transferred into their name or the name of the beneficiaries and have received the new share certificate or Direct Registration Statement. It is not like in the UK where you just register …
Covidien / Mallinckrodt / Medtronic
Medtronic Inc. and Covidien plc are now combined under Medtronic plc. The Tyco Group story gets more full of twists and turns, as on the 28th June 2013 Mallinckrodt was spun out of Covidien Plc, and 1 share was issued in Mallinckrodt for each 8 shares in Covidien held by shareholders of Covidien on the 19th June 2013. Covidien has …
Share Certificates Missing – What to do?
Do you have holdings that you would like to sell or transfer but the share certificate is missing? If you have lost one or several share certificates, don’t panic. You can still sell or transfer your shares providing you obtain a letter of indemnity. Letters of indemnity are issued to minimize potential financial loss caused by misuse of the original certificate. …
Did You Know You Could Donate Shares to Charity?
Sometimes the cost of selling shares may outweigh their value. If this applies to shares held either in your name or in a deceased’s estate and you are the executor, you may prefer to gift these shares to charity. Even if you have just one share, we can help you with the process. How it works? Any donated shares are collected, …
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