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kimchi

Inheriting shares - couple of questions please

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Hi folks,

Well I have recently inherited some shares, but have been surprised since my last similar inheritance at question number 1. There are 2, and I'd be very grateful for any advice:

1) I'm fairly certain that as of my last inheritance (a decade or so ago) there was a way to check centrally for any missed/unknown investments, but it seems now you actually need to have the details of the investment/shares (or so some of the share companies are telling me) - ? If it is indeed the latter it is a right royal pain because some shareholdings are only coming to light up to a year after the passing of my relative because the share administrators do not send out regular comms in all cases - one shareholding I was very surprised to hear of after almost one year after my dear relative passed away. I can pay another £90 to have post redirected for another year, but if there's an easier way I'd be very glad to hear of it (and the PO Redirection seems hit and miss anyway if the property is sold) :)

2) I'm planning on cashing them all in because I think the market will crash but am in two minds about BT. The dividends are reasonable I think, and people will always need these services (particularly internet) so this is one that - should the market crash - I think if I keep hold and weather the storm they will always do OK. Any thoughts there?

Cheers!

 

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15 minutes ago, SILVERFINGER said:

I would invest in the Silverfinger© timeshare, up to 4 times a year you get to take me to a restaurant of my choice, and treat me to a bullion coin of my choice.

How can I resist an offer like that? :rolleyes:

:P

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Sorry for your loss Kimchi.

First Question 2 What I would do (not what you should do ?);

Keep the telecoms and infrastructure shares ie. BT, centrica and other high dividend infrastructure based companies, telecoms especially (internet service providers and mobile phone companies) and water companies that pay dividends for obvious reasons. They will all do well when things go tits up and long term even if they don't. Unless of course JC gets in and nationalises infrastructure, but telecoms should be safe he doesn't understand them.  

Keep uranium mining shares, its the next oil (electric vehicles).

Sell everything else. 

Question 1 sorry I can't help I am surprised there isn't a service available for that kind of thing. 

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Yeah on a serious note, about 3 years ago my mum died, 4 months later my best friend, and another 4 months my dad, it was the worst time of my life I lost nearly everyone who mattered, my dad was my stepdad so I wouldnt automatically get everything, and I only found his will a few days after he died, which he had done only the previous month, I inherited alsorts of things, property, vehicles, and about forty years of rubbish, and items that I will treasure from my best friend, I would personally split what you get in being debt free, enjoying life (you dont know whats around the corner) and make a special precious metal purchase to treasure and remember the person by who left you stuff when ever you look at it.

Edited by SILVERFINGER

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Many shares are centrally registered with Computershare so worth checking if you can.
If shares are held with a broker then that broker would be able to check any other client share holdings.
You would I assume require probate to access information.
Some people however kept paper share certificates so it might be possible to write to the Company and see if the paper holding represents the total number of shares as in the past some Companies would issue new shares as dividends.

BT was hammered by the dodgy accounting in Italy so a poor time to sell right now.
Hold the shares and sell in the future hoping a substantial recovery in price.

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Pete seems to have covered it but one thought I had if you are not certain what companies' shares your relative held is to look at their old bank statements to see what dividends came in - OK not all companies pay dividends and they may have sold the shares after the dividend was paid but it might give you a clue about a company you need to check out.

It would obviously be so much easier if they had had a broker because then all their shareholdings ought to have been listed in one place. 

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Thanks one and all for your advice, @SILVERFINGER mate so sorry to hear about your losses, what an absolutely horrendous year :( I think the plan with my uncle, apart from the usual pics etc,  is to keep his 'signature' car in the family (Triumph Spitfire) and slowly have it restored as funds allow to be enjoyed for years to come.

Sorry @KDave only just seen your post this morning. Yes I was sure last time I went through this painful process there were a couple of databases that could be checked (for most things) but it seems I was wrong or things have changed. I've done all Probate etc myself but I think I should check with the legal bods on this one as it must be a situation that often occurs.

I think I'll keep BT for now as folk suggest and for the reasons given, thanks. I was thinking this was one to keep and certainly for now if the share price has taken a tumble.

@Pete Computershare are actually the 'culprits' here! There were two different shareholdings with the same name and address and all personal details and they told me they couldn't check for any others. Lo and behold about eight months later my late relative gets a letter (in his name!) about different shares from them. And I have to go through the whole process of registering the death and Probate with again, I find it bizarre.

@Seasider many thanks, good idea about the bank statements, unfortunately my relative received dividends as cheques. He was a hoarder though and kept every piece of paperwork he ever received over about sixty years, so unless anything else turns up I guess I will have to work my way through it and chase lots of companies that almost certainly no longer exist, have been bought or changed name, and who he may have already settled with. Not a small job and some of the old certificates look like documents from the middle ages!

 

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