Estatesearch has seen a dramatic rise in UK share sales over the past year. The company has confirmed a 365% increase in holdings sold in 2023, amounting to over £14 million.
Alex McDermottroe, Securities Administrator, Estatesearch said that while their Financial Profile Search might identify unknown shares in a probate case, where beneficiaries are aware of holdings, they can “quickly verify, value and either transfer or sell shares for a small flat rate fee”. He continued:
“This saves legal firms time and means they can offer transparent pricing. One firm recently delivered 15 share certificates to us, which dated back over 25 years. Within five working days we were able to confirm the names of the current companies in which there could be possible holdings ready for verification and valuation. The solicitor said it would have taken them weeks to complete this task! Because we value, verify, and sell shares on a daily basis, we provide an efficient one stop service for the entire shares-in-probate journey and a cost-effective option for beneficiaries.
On the occasion we are not able to verify holdings – perhaps the company has been dissolved and shares have ceased to have value – we can provide that information but do not charge.”
Estatesearch’s share valuation service can be accessed through the company’s free secure portal where firms only pay for searches or services used. For verification and sales of UK holdings, Estatesearch offers an expert, personalised service reflecting the unique nature of each case. Cinzia Duncan, Senior Associate, Harper Macleod, Glasgow confirmed:
“I have been able to use Estatesearch’s share services to verify and sell shares in an executry case recently. As there was only a small shareholding, our time to sell the shares would have ultimately outweighed the benefit for the beneficiaries. However, Estatesearch was able to complete the share sales quickly, efficiently and cost effectively helping to ensure there was no hold-up in distributing the estate.”
As well as share sales and related services, Estatesearch offers a Financial Profile Search to identify unknown assets plus a range of additional services including, Trustee Notices, Overseas & UK Bankruptcy Searches, Unoccupied Property Insurance and Early Distribution Insurance. Alex McDermottroe said:
“Our reputation for supporting private client practitioners is growing. In our recent client survey of over 200 respondents we were delighted that 98% rated their overall experience with Estatesearch as excellent or good, and 100% would recommend us. With share valuations taking a maximum of five working days and verification an average of 21 days, we are encouraging more legal firms to get in-touch to see how our share services can help reduce the pressure they face due to their busy caseloads.”
Find out more about our Shares Sales Service.
Originally published in Today’s Wills & Probate – 12th December 2023