Selling shares after probate

[MiniDaffodils]

Does anyone know how to do this? I haven’t got a clue.
We have probate now - the letters arrived this week.
No death certificate yet but we have a fact of death letter from the coroner that we can use in its place.
I know nothing at all about shares. Do I ring the company and they sell them? Google doesn’t seem to help me. I don’t seem to have any certificates. When I told the companies he had died they sent me some very complicated forms about transferring stock. I don’t want to transfer the stock.
I had put this to the back of my mind until we got probate but I realise I can’t do that much longer. Plus we need the cash!
Any advice appreciated. Very very simple language preferred !
Thanks.

I am so fed up with all the form filling. It is so depressing. My dad’s death was unexpected and no cause is yet established. It’s dragging on and on. 4 months now and counting.
I am looking forward to an end to all the depressing paperwork. Just need to sort out the finances.

I’m very sorry for your loss

Unfortunately a death does generate a lot of admin and there is not really any avoiding it. The stock transfer forms will be to transfer the stock from your father’s name into the name of whoever inherited them. Do you have a solicitor who helped you with the probate? They may be able to help with these.

Are the shares in a listed company or a private company? Listed shares will be much easier to sell. In your situation I would recommend finding an independent financial advisor to help you.

Sorry for your loss

It sounds like the shares are held nominee, so electronically with either a stockbroker or the company directly? Is it more than one company? You shouldn’t need certificates to sell them, as they wouldn’t have been issued for this kind of holding.

I used to work in a stockbrokers, and we would issue what we called an ‘expression of wish form’. As the executor (which I assume you are?) you could choose to transfer them into your or another name, or sell them. Probate is the key document - I would contact them again, explain you now have probate and wish to sell. I’m sorry they’ve not made this more straightforward for you, if required get someone from the company to talk you through the form stage by stage so you’re confident it’s correct - they should be happy to do this. Bereavement is such a tricky time and complications like this can be totally overwhelming.

Thank you very much!
We didn’t use a solicitor (too expensive for us) we just filled in the forms for probate ourselves. I honestly don’t know if they are listed or private so I will Google that.
Yes I am the executor, along with my brother who also has no clue! They are in more than company. Dad’s death was completely unexpected and his affairs were, not in order as they say.
I will start with finding out whether they are listed or private and then ring one of them about having probate. At least I can make a start - thanks

OP you could report this thread and ask it to be moved to the Legal board. I'd also recommend the MoneySavingExpert forums, which have a Death & Probate section - they were very helpful when I was an executor.
My top tip would be to use a good listmaking /todo app and have a little notebook.
Good luck.

You will need to get the shares transferred into the name of the beneficiary

That person will then be able to sell them, probably via a broker

There may be capitals gains tax to pay on the sale - if proceeds exceed probate valuation