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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.
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
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:
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.
Please note: 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. Information about these verification checks can be found below and in the bereavement guide that will be sent to you in the post.
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 any questions or would like some help, call our dedicated Bereavement Team.
Call 0345 070 7129 or +44 113 270 1154 from abroad.
Lines are open Monday to Friday, 8am – 5pm (closed weekends and English Bank Holidays).
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:
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.
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:
If you don’t have these documents, you can use a:
You can provide proof of your address with either a:
If you don’t have these documents, you can use a:
Our share dealing fees are:
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:
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’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.
Assets |
Any property or possession which has a cash value. |
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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:
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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:
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. |