A relative was appointed co-executor of his uncle's will over 35 years ago together with a solicitor - at that time all monies and property was disbursed to the beneficiaries,including my relative ( or so he thought).
However, a few years ago he discovered that a small number of Avonmore co-op shares (several hundred) remained in his uncle's name (c/o my relative as executor) and he subsequently received a number of small dividends from the co-op, on which income tax was paid. Recently,due to the Glanbia PLC/ co-op deal whereby Plc shares were issued in part exchange for co-op shares, my relative became the recipient of Plc shares, some of which he subsequently sold earlier this year when the Glanbia share price was at its peak (CGT on disposal will be due in December).
It seems likely that if my relative were to arrange for the disbursement of the remainder of his uncle’s estate (totalling at most several thousand euros comprising of past co-op dividends, the remaining co-op shares, the balance of Plc shares and the proceeds of the earlier Plc share disposal), it would be dwarfed by the solicitor’s fees involved and that none of the beneficiaries including himself would end up a net recipient; in fact it appears more than likely that he would end up paying the balance of the solicitor’s fees out of his own pocket in order to tie up the loose ends.
Can you advise of the best course of action in this case?
However, a few years ago he discovered that a small number of Avonmore co-op shares (several hundred) remained in his uncle's name (c/o my relative as executor) and he subsequently received a number of small dividends from the co-op, on which income tax was paid. Recently,due to the Glanbia PLC/ co-op deal whereby Plc shares were issued in part exchange for co-op shares, my relative became the recipient of Plc shares, some of which he subsequently sold earlier this year when the Glanbia share price was at its peak (CGT on disposal will be due in December).
It seems likely that if my relative were to arrange for the disbursement of the remainder of his uncle’s estate (totalling at most several thousand euros comprising of past co-op dividends, the remaining co-op shares, the balance of Plc shares and the proceeds of the earlier Plc share disposal), it would be dwarfed by the solicitor’s fees involved and that none of the beneficiaries including himself would end up a net recipient; in fact it appears more than likely that he would end up paying the balance of the solicitor’s fees out of his own pocket in order to tie up the loose ends.
Can you advise of the best course of action in this case?