Portfolio division amongst beneficiaries of a Will

[Rossmoyne]

Three siblings have inherited a portfolio of stocks and shares. One wishes to sell, the other two wish to hold on in the hope that in the long term the market may improve. The one wishing to sell states categorically that they all must sell, i.e. she says it's the default position. I think this is doubtful, but would be grateful if anyone can tell me if there exists in law an obligation to sell or not. Thank you.

[Barmaid]

No, absolutely not. Assuming that the stocks and shares not required to settle any liabilities, tax or administration costs, the one wishing to sell can have 1/3rd of the shares sold, the other two can have their shares transferred into their names and do what they wish.

I would suggest the executors prepare a full schedule of the S&S and then "appropriate" 1/3rd to each of the beneficiaries. The seller can then have hers sold by the brokers who will account to her with the proceeds, the other two can have the shares vested in their personal names.

[lcg]

as barmaid said. your sibling is talking rubbish!