When you’ve lost someone close to you, organising their finances can seem daunting. We’re here to provide practical help to take you through the process.
We’ve put together a guide including some frequently asked questions and a glossary of terms to help make things as simple and straightforward as possible.
When an account holder passes away you’ll need to send us an original or certified copy of the death certificate.
We can accept certification from:
If the document is certified by a solicitor, they will need to note the document with their name, signature and an identifier or reference so that we can find them on the Law Society register.
If the document is certified in a Halifax branch, it must bear the mark of the staff member who had sight of the original, their ID number and the official branch stamp.
Please send the document to:
Halifax Share Dealing
Lovell Park Road
Once we’ve received the death certificate we will update the account and issue a letter to the account’s registered address requesting a Grant of Probate (in Scotland this is called a Certificate of Confirmation) or Small Estates Form. This letter will include a valuation of the account and an Executor/Administration Instruction Form.
If the total value of the share dealing accounts at date of death was less than £50,000 and a Grant of Probate is not being obtained we can accept a Small Estates Declaration & Indemnity Form.
Please note that in Scotland, a small estate is classed as an estate with a total value of less than £36,000. Confirmation from the court will be required if the estate is valued above this amount.
Further information can be found at https://www.scotcourts.gov.uk/taking-action/dealing-with-a-deceased%27s-estate-in-scotland.
Please note: if the estate is valued at over £5,000 then the form will need counter signing by a solicitor registered on the official Law Society website.
Once we’ve received an Executor/Administration Instruction Form and either a Grant of Probate or Small Estates Form we will carry out the requested instructions.
We’ll arrange for all correspondence to be issued to the address of the named executor. If you wish to appoint a solicitor to manage the account and all instructions, you’ll need to send confirmation in writing to:
Halifax Share Dealing
Lovell Park Road
The named executor or solicitor will be sent an Executor/Administration Instruction Form which you’ll need to complete if you would like to sell shares, transfer shares to another account or withdraw cash from the account.
Please note: the form must contain original signatures from all named executors.
If you have requested to sell this will usually be done within one working day of receiving the Executor/Administration Instruction Form. It takes 2 working days for the trade to settle with the market and once settled we will arrange for the money to be sent by cheque to the name listed on the instruction form within approximately 10 working days.
You will be unable to transfer shares, withdraw available funds or the proceeds of a sale until the necessary identity and verification checks have been completed. All named executors listed in the Grant of Probate/Small Estates Form will be asked to complete these checks.
We will attempt to complete these checks electronically however if this isn’t possible, you’ll need to provide original or certified copies of documents from the below list. You will need to send us one document from the proof of identity list and one document from the proof of address list.
If you have sent a request to transfer stock to another Halifax Share Dealing account, this usually takes up to 10 working days to complete. Withdrawing stock onto a certificate can take considerably longer. We will be unable to complete a transfer or withdrawal unless all the necessary identity and verification checks have been completed.
|Probate valuation||No charge|
Distribution of assets
|Dealing commission (per stock)||£12.50 (sales only)|
|Transfer of stock(s) to another provider||£25 per individual stock (max £125)|
|Withdrawal of stock onto a certificate||£25 per certificate|
AJ Bell Management Limited is the scheme administrator for the Halifax Self-Invested Personal Pension (SIPP). There are additional charges to be aware of listed below.
|Payment of death benefits||Time/cost basis|
How do we take payment?
Any charges will be taken from the share dealing account where possible, however where there isn’t an available balance to pay some, or all of the charges, we’ll contact the executor by letter requesting an alternative payment method.
If you’d like to pay any of the charges by cheque please make this payable to Halifax Share Dealing Limited and send to the following address:
Halifax Share Dealing
Lovell Park Road
Any property or possession with monetary value.
The laws relating to inheritance and property in Scotland are very different to other parts of the United Kingdom (apart from the taxes that need to be paid on estates). The equivalent process to probate in Scotland is called ‘confirmation’.
In Scotland, a small estate is classed as an estate with a total value of less than £36,000. These can be dealt with by private individuals, although the requirement for confirmation will be decided by the individual companies you are dealing with.
The necessary forms can be obtained from the Sheriff Clerk’s office and the staff there will be able to help personal applicants for confirmation once all the information needed has been gathered. If the estate is larger than £36,000 and, especially if a property is involved, we recommend the use of a solicitor.
A document which confirms the value of the remaining assets (cash and/or stock) held within the account at the time of death. The valuation will help the executor to determine if a Grant of Probate or Small Estates Form is required.
A certified copy of the entry made in the Death Register. The registrar will be able, for a fee, to provide a number of certified copies to save time when you’re registering claims with various companies.
Distribution of assets
Distribution of the assets refers to the process of selling assets held within a share dealing account as instructed by the named executor of the account. Distribution of the assets can also refer to the executor’s choice to transfer assets held to an account in their own name or the withdrawal of assets onto a certificate.
As executor or administrator (executor-nominate or dative in Scotland) you may have responsibility for one or more of the following:
Grant of Probate
A grant of probate is an official document issued by the Probate Registry which the executors may need to administer the estate. This document will only be issued once the Probate Registry has received the necessary application forms from the named executor, the will’s validity has been checked, and any owed taxes are paid.
If the estate is small, or if it’s held in joint names and passes automatically to the surviving owner (as is often the case with married couples), you may not need to apply for probate.
If there’s a will, you’ll need to get a Grant of Probate; if there isn’t a will, you’ll need to get Letters of Administration (in Scotland this is called a Grant of Confirmation).
Probate is the process you go through if you’re handling the estate of someone who has died.
The process includes:
The same application process has to be made by the administrator of an intestate estate, where there is no will. The grant issued in this situation is called ‘letters of administration’. If there is a will but no executor for any reason, the grant is called ‘letters of administration with will annexed’.
The responsibilities include making sure all taxes and debts are paid before any money can be given to beneficiaries (the people nominated to benefit from the will) and that in general the estate is managed in a way that best serves the beneficiaries.
Rules of intestacy
When a person dies without leaving a will they are described as dying intestate. Certain legal rules called the intestacy rules will determine how the person’s estate is distributed.
A deal to buy or sell an investment such as shares.
Citizens Advice Bureau
For help on practical and legal matters and contacts for counselling, help and support. Look in your telephone directory for your local office or visit www.adviceguide.org.uk in England and Wales, www.cas.org.uk in Scotland or www.citizensadvice.co.uk in Northern Ireland.
Cruse Bereavement Care
Lesbian and Gay Bereavement Project
For support after the death of a partner. London Friend, 86 Caledonian Road, London N1 9DN. Tel: 020 7833 1674.
National Association of Funeral Directors
The Society of Allied and Independent Funeral Directors
Natural Death Centre
For information about alternative and environmentally friendly funerals and committals. In the Mill House, Watley Lane, Twyford, Winchester SO21 1QX. Tel: 01962 712690 or visit www.naturaldeath.org.uk.
British Humanist Association
Department for Environment, Food and Rural Affairs
National Association of Memorial Masons
Holds a database of names of local monumental masons for tombstones and memorials. Castle Mews, Rugby, Warwickshire CV21 2XL. Tel: 01788 542264, Fax: 01788 542276, email email@example.com or visit www.namm.org.uk.
The General Register for Scotland
HM Revenue & Customs
Terrence Higgins Trust
Support for HIV and AIDS.
Gives details of addresses of regional offices. Tel: 03002 220 000 or visit www.gov.uk/browse/driving/passports-travelling-abroad.
Driver and Vehicle Licensing Agency
DVLA, Swansea SA99 1BY or visit www.dvla.gov.uk.
If you have any questions or you’d like some help, you can call us on
Our dedicated Bereavement team are available Monday to Friday, 8am - 6pm (closed weekends and English Bank Holidays).
Where an ISA holder died on, or after, 3rd December 2014, their surviving spouse or civil partner can inherit their ISA tax benefits.
This is referred to as the Additional Permitted Subscription (APS) allowance and is based upon the value of the ISA held by the person who died. The spouse or civil partner does not have to inherit the ISA and can use the APS allowance in addition to their own annual ISA allowance.
Details about how to claim the APS allowance will be sent to the executor(s) as part of the bereavement process.
Halifax Share Dealing Limited. Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.