Forgotten shares found in UK lofts and sheds

LONDON: Nearly a quarter of a million Britons aged over 50 have found hidden share certificates when sorting through a loved one’s house after their death, a survey suggests.

Saga Share Dealing, which made the finding, said lofts, kitchen cupboards and even garden sheds were places where people had discovered certificates stashed away.

Saga estimates that around 226 000 over-50s have uncovered certificates in this way, based on a survey of 9 000 people in this age group.

But more than one in three (37%) of those surveyed said they would not know what to do with a share certificate if they found one.

Saga’s advice, if you want to check the certificate is valid, is to call the company registrar whose name is usually on the document.

Saga estimates that 1.6 million people over 50 have had shares passed down to them from someone else. Women were around twice as likely to have inherited shares than men, which is likely to be partly due to their longer life expectancy. One in five of women over 50 who hold shares said they had inherited them, against one in ten men.

Analysis of Saga Share Dealing data shows that the average value of paper share certificates is around £6 500 (R141 000).

People aged over 50 in Scotland, London, the South-East and South-West were the most likely to inherit shares. Those in the North-West were the least likely. – Daily Mail