Definition of Company Shares in Will

[Crossmans]

I am executor for my late mother’s estate and she has stated that the value of her company shares be given to her grandchildren. She also holds a stocks and shares ISA and an OEIC, should these be considered as “Company Shares”?

[PallasAthena]

Selling the shares at market value and giving the grandchildren the cash proceeds would resolve the question of what they are worth.

Unless there's any indication otherwise in the Will I'd say that a S&S ISA isn't owning stocks and shares, it's an investment account as your late mother won't be the registered owner of the shares in the companies' share registers. Is the issue that you will be closing the account and want to know whether the cash proceeds go to the grandchildren or into the residual estate?

I don't know what an OEIC is.

[Crossmans]

Selling the shares at market value and giving the grandchildren the cash proceeds would resolve hte question of what they are worth.

Unless there's any indication otherwise in the Will I'd say that a S&S ISA isn't owning stocks and shares, it's an investment account as your late mother won't be the registered owner of the shares in the companies' share registers. Is the issue that you will be closing the account and want to know whether the cash proceeds go to the grandchildren or into the residual estate?

I don't know what an OEIC is.

“Yes I am going to sell the shares and distribute the proceeds to the grand children. An OEIC is an Open ended Investment company operated by Scottish widows, and it is described as a pooled investment fund”

[Crossmans]

“Yes I am going to sell the shares and distribute the proceeds to the grand children. An OEIC is an Open ended Investment company operated by Scottish widows, and it is described as a pooled investment fund”