Bereavement support

Organising the finances of a loved one who has passed away can be overwhelming. Because of this we’ve put together a guide to help make things as straightforward as possible.

  • Our charges

    Our charges

    Probate valuations

    No charge

    Distribution of assets

    No charge

    Dealing commission charge for sale of stock

    £5 per stock

    Transfer of stock to another provider

    £25 per investment (max £125)

    Withdrawal of stock onto a certificate

    £25 per certificate

    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 IWeb Share Dealing and send to the following address:

    Legal Department
    IWeb Share Dealing
    Lovell Park Road
    Leeds
    LS1 1NS 

  • Assets
    Any property or possession with monetary value.

    Confirmation
    The laws relating to inheritance and property in Scotland are different to other parts of the United Kingdom. The equivalent process to probate 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.

    If the estate is larger than £36,000 and, especially if a property is involved, we recommend the use of a solicitor. Further support on how to deal with a deceased’s small estate in Scotland can be found on the Scottish Courts and Tribunals website at https://www.scotcourts.gov.uk/taking-action/dealing-with-a-deceased's-estate-in-scotland/small-estates

    Current valuation
    A document confirming the value of the remaining cash and/or stock held within the account at the time of death.

    Death certificate
    A certified copy of the entry made in the Death Register. If you require more than one certified copy then the registrar will be able to provide these for a fee.

    Distribution of assets
    The process for the withdrawal of assets from the account as instructed by the named executor, these include:

    • Selling assets.
    • Transferring assets to another broker (registered in their own name).
    • Transferring assets onto a share certificate.
    • Withdrawing cash to an account (registered in their own name).

    Executor/administrator
    As executor or administrator (executor-nominate or dative in Scotland) you may have responsibility for one or more of the following:

    • Registration of the death
    • Arranging the funeral service
    • Paying urgent expenses i.e. funeral costs
    • Obtaining legal documents (grants)
    • Informing financial institutions - banks, insurance companies, pensions
    • Listing all the assets and liabilities of the estate
    • Paying any tax liabilities i.e. inheritance tax
    • Appointing trustees if required for beneficiaries of the will

    Grant of Probate
    The Grant of Probate is an official document which may be needed to administer an estate. It is issued by the Probate Registry once they have 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
    The process you go through if you’re handling the estate of someone who has died.

    The process includes:

    • Identifying the value of an estate.
    • Completing the necessary application forms for both the probate registry and Her Majesty’s Revenue and Customs (HMRC).
    • Gathering the assets and dealing with any property, paying any debts and completing the legal processes to cover you against late claims in the estate.

    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.

    Trade
    A deal to buy or sell an investment such as shares. 

  • If we’re unable to identify you automatically we will need to complete identity and verification checks.

    You will need to send us original or certified copies of the below documents which include one document from the proof of identity list and one document from the proof of address list.

    Please note, we are unable to accept documentation (e.g. your passport) which is found on both lists to prove your identity and address.

    If you are required to prove both your identity and address, we recommend you choose different documents from the lists provided.

    Proof of identity – accepted documents

    • Unexpired passport with signature.
    • Unexpired UK photo card full driving licence with signature.
    • Unexpired UK full paper driving licence with signature.
    • Unexpired UK photo card style provisional driving licence with signature.
    • Unexpired EU/EEA driving licence with photograph and signature - must be issued by a member state of the EU/EEA.
    • Unexpired Northern Ireland voters card (aka Electoral Identity Card).
    • Unexpired EEA or equivalent jurisdiction national Identity card with photograph and signature.
    • Unexpired blue disabled driver’s pass – UK only, unexpired and needs to bear a passport-sized photograph, name and signature, expiry date and issuer details. Unexpired biometric residence permit – issued by the Home Office.
    • UK benefits/state pension notification letters – must be from an official source, i.e. Job Centre. Plus or Department for Work and Pensions / Local Authority, confirming the rights to a benefit.
    • The letter must be dated within the last 12 months or current benefit period.
    • HM Revenue and Customs tax notification – must be a HMRC tax notification e.g. statement of account, notice of coding relating to the current year. P45s or P60s are not acceptable as these are not official HMRC documents.

    Proof of address – accepted documents

    • Utility bill dated within the last 3 months – utility bills printed from the internet, mobile phone, broadband or internet provider bills, and any reminders or arrears letters are not acceptable.
    • Unexpired UK photo card full driving licence with signature.
    • Council tax demand letter or statement – valid for the current year or less than 12 months old. Reminders and arrears letters are not acceptable.
    • Unexpired UK photo card full driving licence with signature (only acceptable if it is not being used as your proof of identity).
    • Unexpired UK full paper driving licence with signature (only acceptable if it is not being used as your proof of identity).
    • Unexpired EU/EEA driving licence with photograph and signature - must be issued by a member state of the EU/EEA (only acceptable if it is not being used as your proof of identity).
    • Bank or building society statement – must be issued by a regulated financial sector firm in the UK, EU or equivalent jurisdiction and dated and showing transactions within the last 3 months.
    • Statements showing interest only or carry forward balances are not acceptable – those printed from the internet or ISA statements are not acceptable.
    • Mortgage statement - must be issued by a regulated financial sector firm in the UK, EU or equivalent jurisdiction and dated within the last 12 months. Those printed from the internet are not acceptable.
    • HM Revenue and Customs correspondence - issued within the last 5 months and including 10 digit tax reference or NI number (only acceptable if it is not being used as your proof of identity). P45s or P60s are not acceptable as these are not official HMRC documents.
    • UK Benefits/state pension notification letters – must be from an official source, i.e. Job Centre Plus or Department for Work and Pensions / Local Authority, confirming the rights to a benefit. The letter must be dated within the last 12 months or current benefit period (only acceptable if it is not being used as your proof of identity).
    • Solicitors' correspondence - confirming a house purchase in the last 3 months and dated in that period. 
  • 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

    For general information, counselling and support. Tel: 0800 731 4044 or visit www.cruse.org.uk.

    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.

    Compassionate Friends

    For support after the death of a child. 53 North Street, Bristol BS3 1EN. Tel: 0345 123 2304 or visit www.tcf.org.uk.

    National Association of Funeral Directors

    Members must follow their code of practice. 618 Warwick Road, West Midlands B91 1AA. Tel: 0845 230 1343 or visit www.nafd.org.uk.

    The Society of Allied and Independent Funeral Directors

    They have a code of practice for members to follow. 3 Bullfields, Sawbridgeworth, Herts CM21 9DB. Tel:0345 230 6777 or visit www.saif.org.uk.

    Veterans Agency

    Help with costs of simple funerals for those receiving war disablement pensions. Norcross, Blackpool FY5 3WP. Tel: 0800 169 2277 or visit www.veterans-uk.info.

    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

    Information about non-religious and secular funeral services. 1 Gower Street, London WC1E 6HD. Tel:020 7079 3580 or visit www.humanism.org.uk.

    Department for Environment, Food and Rural Affairs

    For a licence for a sea burial. DEFRA, Marine Environment Branch, Room 132, Nobel House, 17 Smith Square, London SW1P 3JR.  Tel: 0345 933 5577 or visit www.defra.gov.uk.

    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 enquiries@namm.org.uk or visit www.namm.org.uk.

    Probate Registry

    For application for powers to process the will in England and Wales: Tel 0845 30 20 900 or visit www.justice.gov.uk/courts/probate.

    The General Register for Scotland

    New Register House, 3 West Register Street, Edinburgh EH1 3YT. Tel: 0131 334 0380 or visit www.gro-scotland.gov.uk.

    HM Revenue & Customs

    For help with tax issues. HMRC Capital Taxes, Ferrers House, PO Box 38, Nottingham NG2 1BB. Tel:0300 123 1072 or visit www.hmrc.gov.uk.

    Organ donation

    The NHS Organ Donor register. NHS Blood and Transplant, Organ Donation and Transplant Directorate, Fox Den Road, Stoke Gifford, Bristol BS34 8RR. Tel: 0300 123 2323 or visit www.organdonation.nhs.uk.

    Terrence Higgins Trust

    Support for HIV and AIDS. 314-320 Gray's Road, London WC1X 8DP. Tel: 0808 802 1221 or visit www.tht.org.uk.

    INQUEST

    Support for inquests - Offering legal aid and support for those involved in inquests. 89-93 Fonthill Road, London N4 3JH. Tel: 020 7263 1111 or visit www.inquest.org.uk.

    Passport Service

    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.

     

     

     

     

     

     

     

     

Registering a death with IWeb Share Dealing

To be able to sell, transfer any holdings or withdraw funds from an account where the account holder has passed away, you’ll need to be registered as an executor.

Send in an original or certified copy off the death certificate

The first thing you need to do is send in an original or certified copy of the death certificate.

If you need to certify a death certificate this can be done through a solicitor found on the Law Society register - they will need to note the document with their name, signature and an identifier or reference.

Once we’ve received the death certificate we will update the account and return the death certificate. We’ll then send a letter requesting a Grant of Probate (in Scotland this is called a Certificate of Confirmation) or a signed Small Estates Declaration & Indemnity. We’ll also include the valuation of the share dealing account(s) and an Executor Authority Form.

If the value of the share dealing account(s) at the date of death is less than £50,000, we would require you to complete an Executor Authority & Small Estates Declaration form. This form will also require you to select an executor who will complete and return the Grant of Probate. If a Grant of Probate is not being obtained, the executor would need to sign the Small Estates & Indemnity Declaration.

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 less than £50,000, but more than £5,000, it will need to be counter signed by a solicitor found on the Law Society register.

Please send the document(s) to:

Legal Department
IWeb Share Dealing
Lovell Park Road
Leeds
LS1 1NS

If the value of the share dealing account(s) at the date of death was over £50,000, the named executor or solicitor will be sent an Executor Authority Form which you’ll need to complete.

Please note: the form must contain original signatures from all named executors.

From the point we receive the documents and update the account, any further correspondence will be issued to the address of the executor(s). If you prefer, we can send the correspondence to a solicitor managing the estate. You would need to confirm this in writing to our legal department at the above address.

Our timescales

Selling:

Once we have received the Executor/Administration Sales Instruction Form we will sell the specified holding(s) when reasonably practicable (usually within two working days).

Settlement will vary depending on both the type of investment and the stock market it trades on.

  • UK shares - 2 working days.
  • Funds - up to 10 working days.
  • European markets - 2 working days.
  • US markets - 2 working days.

We will send a cheque payment to the named executor(s) within approximately 10 working days from settlement.

Transferring stock and/or cash holdings:

If you have sent a request to transfer stock to another IWeb share dealing account, this usually takes up to 10 working days to complete. Withdrawing stock onto a certificate can take considerably longer.

Before we can withdraw any funds from the account we need to complete identity and verification checks. We attempt to do this electronically however, you may be required to send in original or certified copies of documents from the proof of identity list and/or the proof of address list.

Please note, we are unable to accept documentation (e.g. your driving licence) which is found on both lists to prove your identity and address.

If you are required to prove both your identity and address, we recommend you choose different documents from the lists provided.

ISA holdings and bereavement

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.

Getting in touch

If you have any questions or you’d like some help, you can call us on

03450 707 129

If you need to call us from abroad, you can call us on +44 (0) 113 239 1275.

Our call centre is open Monday to Friday 8am to 9.15pm (closed weekends and English bank holidays).