I'd be very grateful for opinions on the best course of action, as per information below. Finding this hard to deal with on an emotional level, and a certain amount of pressure to make a decision. I am one of 3 siblings.

"Confirmation gives the executors authority to administer the Estate, and I would be grateful if you could let me know whether you wish the shares in your mothers account to be transferred equally to you all as the residuary beneficiaries, or whether you would prefer for them to be encashed and the proceeds sent to XX prior to distribution.

I would explain that my colleagues in our investment team have recently reviewed the value of the portfolio and the shares have increased in value by nearly £30,000, which is good news. However, this increase in value from the date that your mother passed away, is now subject to Capital Gains Tax. The estate has a CGT allowance of £12,000 and the amount of any gain in excess of this will be subject to CGT at a rate of 28%.

I would hope that we should be able to mitigate the CGT liability entirely, however you will appreciate that the value of shares fluctuate on a minute by minute basis so I will be able to advise more fully once I receive your instructions. Please let me know whether you wish for all the shares to be transferred equally to your individual portfolios or whether all the shares are to be sold? Should you wish for the portfolio to be sold, we can arrange for the shares to be appropriated to each of you by way of a scheme of division, and you can then each utilise your own personal CGT annual allowance of £12,000 (if you have not already used it for this tax year?) and thereby reduce the amount of the chargeable gain.


Should the shares be encashed, the funds would be sent to X and we will then be able to make interim payments from the funds held, whilst retaining a small balance on our account to settle any debts or fees payable from the Estate.