Inheritance Issue

[satin]

Hi. I have an inheritance issue (English Law). Basically, my grandma died many years ago and her estate was sorted out in the normal way. But some shares she owned got missed. There are two executors of her will and one of them simply won't play ball - sign off the relevant forms - re. these shares. So the ££ cannot be passed onto the beneficiaries, not great but you have to face facts. Assuming that we have given up getting this executor to actually do anything, is there a way of just getting the money paid to a charity instead and without him signing anything (he won't)? At least that way it gets used for a positive purpose. Responses appreciated! Best wishes.

[2222]

This could get expensive. If the value of the shares is modest, it may just be better to forget about it. How much are you talking about?

[satin]

About £2,000

[2222]

Hmmm. That's an awkward sum of money. Too much to just shrug off, but not enough to litigate over.

Do 'the forms' include an indemnity for the bank re lost share certificates? It's understandable that an executor might not want to take on such a liability, so you might find that a court does not even come down on your side.

Would the executor be happy to stand down?

[satin]

Let's avoid litigation, life is too short and it's too risky.

The executor standing down is a good idea though, thanks :-)

[des8]

Can't renounce his position if he has intermeddled with the estate

[2222]

I wondered about that. What if an executor becomes unable to act?

Deed of variation?

[des8]

If the Executor having obtained a Grant of Probate becomes unable to act, application will need to be made to the Court for the Executor to be discharged of their duties

£2000 to be split between how many beneficiaries?
As suggested earlier possibly not worth bothering about.

Tagging Peridot to see if she has any possible solutions

[satin]

Can't renounce his position if he has intermeddled with the estate

intermeddled? I don't know that word.

He carried out his duties as an executor for most of the estate. But these shares got missed. Now he doesn't want to know/ get involved any more.

I found a .Gov form online - PA15: Apply for Renunciation (Will). I was going to email this onto the guy, thank him for all his previous work, say I understand he doesn't want to do any more, please therefore just sign the form to resign as an executor etc. etc.

-> does that work?

If he says No (2/3 chance) then I will just drop the whole thing and forget it, I think

Thanks for all your advice!

[des8]

Intermeddled _ ie has dealt with the estate
That form won't work; see question 7!

[satin]

Understood - thanks for stopping me in my tracks, would have been more time down the drain!

[satin]

If the Executor having obtained a Grant of Probate becomes unable to act, application will need to be made to the Court for the Executor to be discharged of their duties

£2000 to be split between how many beneficiaries?
As suggested earlier possibly not worth bothering about.

Tagging Peridot to see if she has any possible solutions

2 beneficiaries.

And yes, I agree.

[satin]

I think I close this down and write the sum off unless Peridot (thanks for the pointer @des8), or anyone else, has reason to suggest I do otherwise. Basically, it looks like a minefield to try and get the £2,000 and the best thing would be to forget about it - that is my thinking now.

Thank you to everyone for their advice here, appreciated.

[Amethyst]

Instead of a form for the executor to relinquish duties, is there just a form to cash in the shares that could possibly take him less time to sign and send back ? ie. maybe if you talk to him about stepping down as executor and the amount of work involved in doing that he'd be more encouraged just to sign something to get the shares sorted ? ( if he just doesn't want to have to do any more work on it - just signing the shares form would be simplest, quickest, least work way of dealing with it - and stops you bugging him about it quicker )

[Peridot]

Hi Satin,
It is a bit of an awkward one. To deal with the shares, even to donate them to charity the death needs to be registered and the grant of probate provided to the share holding company, so the executor has to do something. If there are 2 executors would the reluctant one be willing to sign a power of attorney to allow the remaining executor to deal with them?
The executor's duties last for their lifetime so as othjers have said it would ne necessary to have them removed and all the cost that entails to actually deal with these shares.
As an aside would the share amount affect any inheritance tax that should have been paid? If there was no tax due and this £2k also doesn't create a tax liability then a corrective accoiunt won't be needed. If however further tax would be due then the executors should deal really as fines and interest will accrue on the asset. Hopefully this is an aside and there are no tax issues.
I have searched about for donating shares and it would be necessary for the executors to complete whatever forms are necessary to deal with this too. I assume the executor does know their duties continue even after they have distributed the estate? Would it be worth mentioning you could apply to have them removed and would seek a costs order against them for any proceedings which they would be personally liable for (so the estate doesn't pay).
I'm not suggesting you take this route bearing in mind the sum involved but it may be enough of a threat to at least get them to deal with the shares?
I will keep looking about and see if I can find anything helpful and will post here if I find any more information.