Share price before probate

R

rainbow pen

New Member
Messages
8
When shares are left to you in a will is there any way for the executor to cash out your shares at the current price before probate is applied for?

I want to leave the resulting funds in the disponer's account.

Probate will take another 3 months and I don't want the shares to lose value.

I think the solicitor can't put a hold on the shares until probate takes place. Is this correct?
 
How do you know they will lose value?
They are just as likely to increase as to decrease in value

and from https://www.oclegal.ie/news/role-duties-executors/

VALUATION AND PROTECTION OF ASSETS.


The next duty is to ascertain the precise value and extent of all of the deceased’s assets. Generally once a bank or financial institution is notified of a death the accounts or investments are automatically frozen and no further activity can take place in relation to the accounts. An Executor may also sell or otherwise dispose of, at his or her discretion, the goods and assets of the Testator before the Grant of Probate issues but this would only really be limited to such matters, if appropriate, as household goods, car or other personal effects. However, certainly in relation to assets such as land or stocks and shares it would be difficult to do so without the Grant of Probate and, in practice, sales of assets will usually only occur after the Grant of Probate issues.
 
You must log in or register to reply here.
Back
Top