Shares left in a will

[sarahfidge]

My mum died last July and left everything to me and my two brothers. In the estate are approximately �15,000 worth of shares. My middle brother and myself don't want to sell especially as the market is down, but our older brother wants the money. Can we offer to buy him out at the current value of the sares or can we be forced to sell all the shares and split the value. We have been told that when someone leaves shares you have to sell them within a reasonable time after the death (ie a year), and can't keep them. Surely this can't be right. Any help much appreciated. Sarah

[sarahfidge]

Thanks "In a Pickle". Done that, hopefully someone can help. Sarah

[Whoever]

I don't know whether the shares are in one single company or a number of different ones but could you not just value them on a specific day and then sell one third of them and give the money to your brother? I'm not a legal expert but would have thought it was then just a case of having the remaining shares transferred into two different names?

[homerbart]

if ethel was about she would know

[emeritus]

If you contact the registrars the executor among you can have the shares transferred into their name and then that person can gift the equal shares to the other two. You can do what you want with them then. They dont have to be sold

I think thats right, its worth checking out