Bereavement support

When someone dies, organising their finances can seem daunting. We’re here to provide practical help to take you through the process from start to finish.

What you need to do

Let us know

Let us know someone has died and send us the original death certificate or a copy. Copies can be sent to us by a registered solicitor.

Send by email to:

stockbrokingbereavement@lloydsbanking.com

Or post to: 

Legal Department
Scottish Widows Share Dealing
12 Wellington Place
Leeds
LS1 4AP

Complete our instruction form

Once we’ve received the death certificate, you’ll need to complete an Instruction or Authority Form.

We’ll write to you to let you know the value of their share dealing account and send you the appropriate form.

If you know the valuation already:

Selling or transferring shares

If selling:

If you’ve asked us to sell investments, we’ll do this within 72 hours. The money will be sent by cheque to the executor within 10 working days. 

If transferring:

If you’ve asked us to transfer stock to another Scottish Widows share dealing account, this usually takes up to 10 working days to complete. Withdrawing stock onto a certificate can take longer.

Time frames may change if we need additional information. 

What happens next?

  • 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 an Executor Authority Form.

    This letter will include:

    • a valuation of the account
    • an Executor/Administration Instruction Form.
  • The share dealing account(s) are valued at less than £50,000 (or £36,000 in Scotland)

    If the total value of the share dealing account(s) at date of death was less than £50,000 please download the Executor Authority Form – Small Estates Declaration & Indemnity (PDF 94KB). This will allow the primary executor to settle the estate once the Grant of Probate has been registered with us.

    If the total value of the share dealing account(s) at date of death was less than £50,000 and a Grant of Probate is not being obtained we can also accept the above form. The Small Estates Declaration & Indemnity section will need to be signed. Please note if the value of the estate at the date of death is more than £5,000 then the Small Estates Declaration would need to be countersigned by a solicitor.

    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 on the Scottish Courts Government Website.

    The share dealing account(s) are valued at over £50,000 (or £36,000 in Scotland)

    Once we’ve received the death certificate we will update the account and issue a letter to the personal representative requesting a Grant of Probate (in Scotland this is called a Certificate of Confirmation). This letter will include a valuation of the account and an Executor Authority Form.

    Once we’ve received an Executor Authority Form (PDF 98KB) and an original/certified copy of the Grant of Probate (in Scotland this is called a Certificate of Confirmation) 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’ve requested for us to sell the investments

    This will usually be done within 72 hours of receiving the instruction form. Upon settlement in the market we will arrange for the money to be sent by cheque to the executor named on the Executor Authority Form within 10 working days. Please note this may take longer where additional information is required.

    If you’ve requested for us to transfer the investments

    If you have sent a request to transfer stock to another Scottish Widows share dealing account, this usually takes up to 10 working days to complete. Withdrawing stock onto a certificate can take considerably longer. Please note this may take longer where additional information is required.

What documents you’ll need

  • When you let us know someone has died, we’ll send you a Bereavement Guide in the post. This will have information on identity checks and verification.

    We’ll need to carry out these verification checks before any funds or shares can be released. We’ll always try and complete these electronically. If that’s not possible, we may ask you to send us original documentation. 

    You’ll need one document from the proof of identity list and one document from the proof of address list.

  • You can provide proof of your identity with either a:

    • current passport with signature
    • current UK photo driving licence (full or provisional) with signature and current address.

    If you don’t have these documents, you can use a:

    • UK paper driving licence if issued up to 30th June 1998 and no photocard is held
    • current EU/EEA driving licence with photograph and signature, must be issued by a member state of the EU/EEA
    • current UK Firearms Certificate or Shotgun Licence
    • current EEA or equivalent jurisdiction National Identity Card with photograph and signature
    • UK Military ID card – (MOD90) – current serving personnel only 
    • UK Benefits or State Pension Notification Letters – must be from an official source, such as Job Centre Plus and Department for Work and Pensions or Local Authority, confirming the rights to a benefit, dated within the last 12 months or current benefit period
    • HMRC Correspondence (excluding P45/P60) showing the Tax reference or NI number, dated within the last 12 months such as a statement of account, notice of coding relating to the current year.
  • You can provide proof of your address with either a:

    • utility bill, dated within the last 6 months
    • council tax letter or statement, dated within the last 12 months.

    If you don’t have these documents, you can use a:

    • current UK photo driving licence (full or provisional) with signature and current address
    • UK paper driving licence if issued up to 30th June 1998 and no photocard is held
    • current EU/EEA driving licence with photograph and signature, must be issued by a member state of the EU/EEA
    • 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 6 months (we can’t accept a statement showing interest only or carry forward balances or an ISA statement)
    • mortgage statement from a bank or building society, dated within the last 12 months and issued by a regulated financial sector firm in the UK, EU or equivalent jurisdiction
    • HMRC Correspondence (excluding P45/P60) showing the Tax reference or NI number, dated within the last 12 months such as a statement of account, notice of coding relating to the current year
    • solicitors' correspondence about a house purchase and dated in the last 3 months
    • Local Authority rent card or statement showing payments within last 3 months
    • You cannot use a document as proof of address if you’ve already used it as proof of identity.

Other useful information

  • Our share dealing fees are:

    • £5 per online trade dealing commission per stock (sales only, UK trades only)
    • no dealing commission on international online trades (sales only, FX rates still apply)
    • £25 for withdrawal of stock onto a certificate

    If there are funds in their share dealing account, these can be used to pay any fees and charges. If there are not enough funds in the account, we’ll contact the executor or administrator by post and request a cheque.

    To pay a fee by cheque, please make it payable to Scottish Widows Share Dealing and post to: Scottish Widows Share Dealing Legal Department, 12 Wellington Place, Leeds, LS1 4AP.

  • If you’re the executor or administrator (also known as the 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 organisations such as 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 or Grant of Confirmation
  • In Scotland the laws relating to inheritance and property are different to other parts of the UK. What is known as probate in England, is called confirmation in Scotland.

    A small estate in Scotland is one that has been valued at less than £36,000. These estates can be dealt with by private individuals, such as family members. If the estate is larger than £36,000 and, especially if a property is involved, we recommend the use of a solicitor.

    You can get support with forms and applications for a grant of confirmation from the Sheriff Clerk’s office website.

    You’ll find more information on the Scottish Courts Government website

  • We understand that some of the language or legal phrasing on this page may not make sense to everyone, so we’ve explained these in a little more detail to help you.
     

    Words and phrases explained

    Assets

    Any property or possession which has a cash value.

    Assets

    Confirmation

    Any property or possession which has a cash 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). In England this is called probate, in Scotland this 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 (such as yourself or family members), although the requirement for confirmation is decided by the company you are dealing with.

    If you need some more support then the staff at the Sheriff Clerk’s office will be able to help personal applicants with the necessary forms and 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.

    Assets

    Current valuation

    Any property or possession which has a cash value.

    A document which confirms the value of the remaining 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.

    Assets

    Death certificate

    Any property or possession which has a cash value.

    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.

    Assets

    Distribution of assets

    Any property or possession which has a cash value.

    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.

    Assets

    Executor/administrator

    Any property or possession which has a cash value.

    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 organisations such as 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.

    Assets

    Grant of Probate

    Any property or possession which has a cash value.

    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).

    Assets

    Probate

    Any property or possession which has a cash value.

    Probate is the process you go through if you’re handling the estate of someone who has died.

    The process includes:

    • identifying what’s in the estate and its value
    • completing the necessary application forms for both the probate registry and HM Revenue & 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.

    Assets

    Rules of intestacy

    Any property or possession which has a cash value.

    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.

    Assets

    Trade

    Any property or possession which has a cash value.

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