A thorny issue on shares

(5 Posts)
Moominsarehippos Mon 04-Feb-13 09:07:09

Sooooo. There are six of us siblings.

When our parents died, a lot of things were sold and one thing that wasn't was somne shares. Obviously, they had taken a bit of a beating on value, but seem to have been creeping upwards in value.

They are all pretty good, solid companies.

One brother now wants to sell up, and a couple of the others have decided that this is a good idea too (to fund various expenses, purchases and projects).

I am unsure. I hate the idea of them being sold at a low price (our parents worked bloody hard for everything they built up) and although we are tight for cash (getting by) and this would pay the mortgage for a year, I really am unsure what to do.

Sell and invest/pay of mortgage (or offset it) open a pension (don't currently have one).

So its a nicer decsion than where to bury your parents (they've been gone a while now, so their 'estate' no longer have that heartwrenching feeling attached to them) but I am useless at making decions.

DH says that family is most important (we are all each other have really) and if they were all keen, then don't rock the boat for a few pounds.

HeathRobinson Mon 04-Feb-13 09:11:46

Why not divide the shares? They could sell theirs and you keep yours, if that's what you want.

MoreBeta Mon 04-Feb-13 09:20:37

Presumably these share are held in a trust of some sort?

It is easy to transfer the shares in specie to the various beneficiaries and then each can decide to do with their allocation once held in their own name. You just all need to agree to the transfer.

In fact I am quite surprised it has not already been done. You are all probably paying some solicitor/manager to manage something you can do yourselves for free.

Moominsarehippos Mon 04-Feb-13 09:33:43

My brother's an accountant so we left it up to him. If they are split and sold, would the sum total of fees be higher than if sold in one lump?

The rule is 5:1 sell atm!

MoreBeta Mon 04-Feb-13 09:38:21

It would be a bit more expensive as there woudl be six sets of broker commissions but if you use a low cost broker we are talking about £300 rather than just £50 so its not the end of the World.

If you have a broker that charges a percentage it would not cost more.

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