Q&As

For listed stocks and shares, where an individual dies at a weekend, the personal representatives (PRs) have the ability to choose between using the price on the last dealing day before or the next dealing day after the date of death. Where the deceased had a portfolio of listed stocks and shares, can the PRs cherry-pick different valuation dates for different shares within the portfolio or do they have to use the same valuation date for the whole portfolio?

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Produced in partnership with Graham Stott of gunnercooke LLP
Published on LexisPSL on 15/06/2020

The following Wills & Probate Q&A Produced in partnership with Graham Stott of gunnercooke LLP provides comprehensive and up to date legal information covering:

  • For listed stocks and shares, where an individual dies at a weekend, the personal representatives (PRs) have the ability to choose between using the price on the last dealing day before or the next dealing day after the date of death. Where the deceased had a portfolio of listed stocks and shares, can the PRs cherry-pick different valuation dates for different shares within the portfolio or do they have to use the same valuation date for the whole portfolio?

Each type of listed share is valued separately and Practice Note: IHT—valuation principles and particular types of property explains that the closing price on the day the person died is used. However, if the deceased died on a non-dealing day, such as at a weekend, the personal representatives (PRs) can choose between using the price on the last dealing day before or the next

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