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Joshua
Joshua, Lawyer
Category: Law
Satisfied Customers: 25358
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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HiMy aunt died in 2004 leaving everything to her son. My

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Hi My aunt died in 2004 leaving everything to her son. My cousin died in 2008 without signing his will. As the closest relative I was tasked with the administration of his estate and probate. However we discovered that no probate had been done for his mother which then had to do. The whole estate was distributed to a number of relatives. It now turns out that there is a matter of Aviva shares that have been found that we're his mothers. Amount is in the region of £500. CN you tell me what should happen to these shares and whether I am legally entitled to them or will they have to be shared between relatives who are scattered throughout the world I hope you can advise me Mrs j XXXXXXXX

Submitted: 3 years ago.
Category: Law
Expert:  Joshua replied 3 years ago.

Joshua :

Hello and thank you for your question. I will be very pleased to assist you. I'm a practicing lawyer in England with over 10 years experience.

Joshua :

may I ask if you have the share certificate for shares in question please?

Customer: Hi
Joshua :

hello. Would you be able to tell me if you have the share certificates for the shares you have discovered please?

Expert:  Joshua replied 3 years ago.
hello. I gather you have been experiencing difficulties with the chat function. I have switched to a question and answer format. I hope this is easier for you to access.

Would you be able to tell me if you have the share certificates for the shares you have discovered please?

Customer: replied 3 years ago.
Hi
I don't have the share certificates. I only know about them through a firm in Bristol who contacted me. They specialise in reuniting people with unclaimed assets . They have sent me a form to complete as to what I want to do with them
I look forward to your reply
Many thanks
Expert:  Joshua replied 3 years ago.
thank you. If you decide to proceed to claim the shares that have been identified, it follows that they would belong to the estate and therefore would need to be distributed under the rules of intestacy which from what you say, entitles a substantial number of relatives to their individual shares.

accordingly, there are a couple of points to consider. It is likely the company that has contacted you will be seeking a commission in respect of the shares they have identified if you agree to their terms. Any such commission will reduce the amount you would receive as an ultimate settlement. Furthermore, if the share certificate has been lost, the registrar that maintains records of the shares will require indemnity for which there will be a fee which will likely be in the order of one hundred pounds more or less. this again will arrange the amount that you will receive from the shares as administrator.

If the shares are worth in the region of £500, you will see from the above that you could potentially end up with less than £300 after the above are deducted and depending upon how many relatives the rather to share the asset between, it may end up being a very small sum of money being due to each person particularly after you claim any expenses such as postal costs and so on in dealing with claiming the shares.

accordingly, you may wish to ask the claims company that has contacted you for a note of their fee and likely cost of indemnity that the registrar will levy in the event of a lost share certificate to calculate whether this is worth your time pursuing. If you consider that it will result in a figure that is worthwhile for each beneficiary, then it is worth pursuing but if the figure is going to end up being little more than low to medium double figures per beneficiary, you may consider it is more trouble than it is worth

however, to reiterate in respect of your specific question, the shares would need to be shared in exactly the same proportions as the balance of the estate was shared between the beneficiaries that are entitled under the rules of intestacy

is there anything above I can clarify for you?
Joshua, Lawyer
Category: Law
Satisfied Customers: 25358
Experience: LL.B (Hons), Higher Prof. Dip. Law & Practice
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