What happens to investments if the investor passes away?
The investments on Abundance are transferable. Therefore, if an investor dies, any investments and cash they hold Abundance will form part of their estate and can be passed on.
Notifying us of an investor’s death
To notify us of the death of an Abundance member, please send a scanned or photographed copy of the Death Certificate to email@example.com or start a conversation using the button below and attach it.
We can provide a valuation statement of the Abundance member’s account at the time of death. In order to administer the account, the executor needs to provide us with evidence of Probate in the form of a Grant of Representation (known as a Confirmation of Executor Nominate in Scotland). A scanned copy or photograph can be sent to firstname.lastname@example.org or you can start a conversation and attach one using the button below.
In order to transfer any investments held to the executor or a beneficiary, they will first need to create an account with Abundance. Once transferred the investments may be held until maturity, or sold on the Abundance marketplace by the new account holder. Any cash held can also be transferred to the new account holder, or withdrawn back to the executor’s bank account.
Transferring ISA subscriptions in the event of death
Upon your death, your ISA can remain temporarily open while your estate is administered, but will then need to be closed and the cash and investments held transferred to your beneficiaries. While your ISA must be closed, your surviving spouse (including civil partner) is allowed to make an additional permitted subscription (APS) above their personal ISA allowance, up to the value of your ISA at the time of your death or at the point the administration of your estate is complete.
The Abundance ISA does accept additional permitted subscriptions under these circumstances. Please contact us, or start a conversation using the button below, if you would like further information about additional permitted subscriptions.