Shares in joint names , can you split them?

[nymphadora]

Dh & his brother have a few share inherited from their father. Every so often cheques arrive for dividends but we can't cash them as they are in joint names. They've been ignoring this for about 10 years now but I can't understand why they can't be split/buy each other out or something. Dividends aren't much but it bugs me that they can't access it.

Any suggestions?

can your dh and brother go to the bank and open a joint account solely for the purpose of cashing these cheques?

Not often in the same country which is why they haven't. Bil is at the other end of the country even when he is in UK. I've only met him three times in 5 years ( twice was abroad , once was our wedding) so that's how much they see of each other!

They aren't likely to make the effort for these cheques.

There are several ways they could reorganise things. The joint account idea for one. They could arrange for the dividends to be reinvested in more shares rather than sent as cash. One brother could buy out the other so all the shares would be in one name.

But if they don't want to make any effort it sounds as though the sums involved are relatively small and/or they don't need the money. It's up to them really.

Thanks. The amounts are small but we could be in a position where every penny counts so I see it as waste.

Is there a way to do a joint account without both being present?

There is but I think it would be classed as identity fraud :) Even if you facilitated the opening of a joint account they'd both have to provide signatures etc., and they'd have to remember to make withdrawals possible on just one signature or they'd be back to square one. If you need the money, would your brother in law be prepared to buy out your husband instead?

Was thinking post/Internet account rather than faking it ! Now BIL has a UK address things may be more straight forward.

Am trying to sit dh down to go through finances. He has lots of odd bits of stuff & there is only so long redundancy money will last so I want to be clear what there is if things come to it.

Contact the share registrar (Look at the website of the company the shares are for there should be an investor link and you will find who holds the register in the uk, Equiniti & Computershare are the 2 big ones) most will pay dividends direct to your bank account rather than by cheque they will also be able to re-issue the lost dividends.

Thanks!