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Bonds
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Can you tell me how bonds have to carry on to maturity even if the holder has died.
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Bonds such as War Loan can be traded.
When my mother died, after probate was granted ( alot of posts on this alone) we applied to have her stocks and shares transferred into the executor's name and this was done without difficulty, even those which were xd ( ex-dividend). The executor then distributed the shares with consent of all beneficiaries.
about five years after that I was reading one her telephone directories - you know as one does - and a dividend popped out in her name. - Treasury 3 1/2 % 1955-1995. So I wrote to the BofE that was the bank named on the cheque and asked for a replacement in the executor's name using only a copy of the probate valuation
and they coughed up without any problem
I have taken bonds to mean UK govt bonds ( gilt edged securities )
When my mother died, after probate was granted ( alot of posts on this alone) we applied to have her stocks and shares transferred into the executor's name and this was done without difficulty, even those which were xd ( ex-dividend). The executor then distributed the shares with consent of all beneficiaries.
about five years after that I was reading one her telephone directories - you know as one does - and a dividend popped out in her name. - Treasury 3 1/2 % 1955-1995. So I wrote to the BofE that was the bank named on the cheque and asked for a replacement in the executor's name using only a copy of the probate valuation
and they coughed up without any problem
I have taken bonds to mean UK govt bonds ( gilt edged securities )
If they are anything like the "bonds" my mother had from a building society when she died, I got them passed into my name as executor because they would have paid nothing for the years already run if cashed in at the time. When they matured I got the building society to pay them out in a number of cheques so my siblings and I could have what we were left in mother's will. Some time later I had the tax man claiming I'd not declared something but thinking it great fun, an absolute hoot, not to say what. Racked my brain for ages, then finally it occurred to me. Surely he could not possibly have been referring too those bonds that had already been covered by the estate that was too small to attract a tax demand ? Turns out it was ! Luckily I was able to convince him that it wasn't mine but part of the estate, delayed, but that's the sort of stress we all could do without.
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