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Hi Mike,
You were a great help to me getting 68 in F7 last year so I thought maybe you could help me with an accounting matter in relation to transfer of shares to a spouse.
My Uncle died April 2014. My cousin wishes to transfer shares to his wife prior to Probate. He is seeking the services of an accountant to do this. We would like Probate to begin very soon so that my Uncle’s charities may receive their bequests. However, my cousin has said that share transfer could take months.
I am wondering if share transfer would really take that long.
Many thanks,
I doubt it very much! Why not get your cousin to contact a stock-broker? They should be able to arrange it within a matter of hours (I imagine!)
Besides, how can it be a matter of urgency? Your uncle died more than 12 months ago (and potentially up to 25 months ago so how come your cousin has now decided that he needs to accelerate? The charities have already waited more than a year! They can surely wait a little bit longer
Hi Mike,
Yes. The charities themselves do not appear to be in any rush to receive their money. They said they understand that some Estates can be complex and drawn out. However we the family want my Uncle’s wishes to be carried out. It makes no significant financial difference to me as my benefit would be maybe €50.
My cousin is trying to avoid inheritance tax by obtaining agricultural relief on my Uncle’s farm. My cousin has gone to 3 accountants already and they said given his strong financial position that he would not qualify. However, he has found an accountant now who maintains he would qualify for agricultural relief. Therefore, he is transferring shares to his spouse.
Many thanks,
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