We’re here to help
If you'd like to talk to someone about what happens next, our dedicated bereavement team are on hand, simply call 0800 390 390. We're available from 08:00 to 18:00 Monday to Friday, and 09:00 to 13:00 on Saturday (UK time). If you're based outside of the UK please call 00 44 1268 448 031 (during our UK opening times).
All calls are free within the UK. For your security and to improve the quality of our service we may record and monitor telephone calls.
Bereavement guide for executors and personal representatives
On this page we'll take you through the three main steps of the process, including details of the information we’ll need from you, and what we’ll be doing at every stage to help make sure everything goes smoothly.
You can also download our Bereavement guide with this information.
What to do when an M&G investor dies
When it comes to dealing with the M&G investments of your loved one, there are three main steps you’d need to take. Please see below for a short explanation of what happens at each one – but for more detail please download our Bereavement Guide.
- 1. Let us know
- 2. Get probate
- 3. Tell us what to do with the investments
Notify us of the investor’s death
The first thing to do is tell us that an M&G investor has died, so that we can register and verify the death. You can do this by one of the following methods:
Phone – Please call us on 0800 390 390 or 00 44 1268 448 031 if calling from overseas, and we’ll try to verify the death electronically.
Post – Please send us the original Death Certificate along with the following information:
- Deceased’s full name, address, date of birth and M&G client reference(s)
- Name, address, date of birth and contact details of the individual sending the death certificate
- Address the death certificate should be returned to.
Please send the original Death Certificate and covering letter to:
M&G Customer Relations
PO Box 9039
Chelmsford
CM99 2XG
What we'll do
- Arrange for correspondence to be sent to you and return the death certificate (if you’ve sent it to us by post) by recorded delivery as soon as possible.
- For sole accounts, we’ll put a hold on the account, stop any dealing and reinvest any income generated by the investments.
- For joint accounts, we’ll remove the investor’s name from the account and the holding will stay the same and continue with the remaining investor(s).
- Stop any regular savings or withdrawal plans.
- For sole accounts, we’ll send you a valuation of the investor’s account on the day they died – you may need this for when applying for a Grant of Representation. The valuation will also confirm the investments and fund(s) held.
- Write to you separately to provide details of our Privacy Notice.
Confirm you’re authorised to deal with the investor’s estate
Next we'll want to confirm who has legal responsibility for distributing the investor’s estate.
Depending on the overall value of the investor’s estate including their M&G investments we’ll either require a Grant of Representation or a Small Estates Form.
Where we state Grant of Representation, this should be taken to mean a Grant of Probate, Letters of Administration, a Confirmation (for Scottish residents) or equivalent documents issued in other countries which have been resealed in England.
To confirm probate, we'll need you to send us a Grant of Representation, together with a completed Executor Notification form, signed by each of the executors.
You can send us a copy of the Grant of Representation or a completed Small Estates Form electronically via document upload. Call 0800 390 390 and we'll be able to discuss with you details of how to upload documents electronically.
Small Estates
If the investments of your loved one are £36,000 or less, and you're not applying for probate, you can complete a Small Estates Form instead.
How to apply for probate
You can apply for probate yourself, either online at www.gov.uk/applying-for-probate or ask a solicitor to apply for you. It usually takes around two months to obtain a Grant of Representation, but can take longer for complex cases.
The information you’ll require from us to apply for the Grant of Representation will include:
- The date of death valuation
- The distribution (income) due at the date of death, but not yet paid.
Inheritance Tax liabilities
Inheritance Tax must be paid prior to a Grant of Representation being issued. We're not able to send proceeds from the investments of your loved one directly to HM Revenue & Customs (HMRC) or to anyone dealing with the estate before we've received the Grant of Representation.
What we'll do
- Once we receive the Grant of Representation and Executor Notification form or Small Estates Form and we have all the required documentation and verified the identity of the Executors/Personal Representatives, you'll be able to begin distribution in line with your loved one’s wishes.
- We'll also write to you separately to provide details of our Privacy Notice.
The final step is where the beneficiaries decide what they want to do with the investments they’ve inherited. They have the option to invest into a new account, transfer the investments into a new name, or sell them and receive the cash.
To transfer OEIC or Savings Plan funds directly to the beneficiaries, you’ll need to send us the following forms:
- Stock Transfer Form(s), one for each new holder the investments are being transferred to.
- Each Stock Transfer Form must be signed by all the Executors/Personal Representatives.
- M&G OEIC or M&G Savings Plan Application Form, completed by the Beneficiary/New Investor.
What we'll do
- Once we’ve received the completed application forms and there are no queries, the new investment will be in place within five working days.
- We'll send the Beneficiary a welcome brochure and the purchase confirmations.
- And we'll send to the first named Executor/Personal Representative the individual withdrawal confirmations.
To reinvest OEIC or M&G Savings Plan funds into an ISA, you’ll need to send us:
- A Withdrawal Form completed and signed by all Executors/Personal Representatives or a letter which includes:
- The name of the deceased
- The M&G client reference (if known)
- Details of the shares to be sold (how much and from which funds)
- Dated signatures of all Executors/Personal Representatives.
- A completed M&G ISA Application Form
The letter must be signed and dated by the Executors/Personal Representatives as they are responsible for the existing investments.
The M&G ISA Application form must be signed by the Beneficiary/New Investor.
What we'll do
- Once we’ve received the Withdrawal form or letter and the M&G ISA Application Form, the new investment will be in place within two working days.
- We'll send the Beneficiary a welcome brochure and the purchase confirmations.
- And we'll send the first named Executor/Personal Representative the individual withdrawal confirmations.
A surviving spouse or civil partner who inherits some or all of the assets can use these to invest directly into an M&G APS ISA, subject to their APS ISA allowance.
To do this you’ll need to send the following:
- A letter of instruction signed by all Executors/Personal Representatives.
- An M&G APS ISA Application Form completed by the spouse.
What we'll do
- Once we’ve received the completed application forms and there are no queries, the new investment will be in place within five working days.
- We'll send the Beneficiary a welcome brochure and the purchase confirmations.
- And we'll send to the first named Executor/Personal Representative the individual withdrawal confirmations.
To sell the investment you can either:
- Call us on 0800 390 390. If there’s more than one Executor/Personal Representative, and they are all not present on the call, we’re still able to sell the investment, however, we’ll also require a completed M&G Withdrawal Form signed by all Executors/Personal Representatives to allow us to pay the proceeds.
- Send us an M&G Withdrawal Form, completed and signed by all Executors/Personal Representatives.
- Or send us a letter dated and signed by all Executors/Personal Representatives which includes:
- the name of the deceased
- the deceased's M&G client reference
- details of the shares to be sold, and from which funds and where the proceeds should be paid to.
What we'll do
- We’ll sell the investment at the next available valuation point and send you confirmation by close of business on the following working day.
- Once anti-money laundering checks have been completed, we’ll send the proceeds within three working days.
FAQs
A Grant of Representation/Grant of Probate, is the legal document which confirms the executor(s) of a Will (the person or people responsible for carrying out the wishes contained in the Will) and who have the authority to deal with the assets of a person who has died. If they didn’t leave a Will, Letters of Administration/Certificate of Confirmation is used instead.
You can download the Small Estates form.
You can send us original or certified copies of the death certificate or the Grant of Representation.
No, you don’t need to send a Grant of Representation for a joint account. We’ll amend the records to remove the deceased investor’s name.
Our team will continue to manage the investments as before. Please remember that prices will go down as well as up and you may get back less than you originally invested.
If your spouse or civil partner held an Individual Savings Account (ISA) and died on or after 3 December 2014, you are able to inherit an additional ISA allowance called the Additional Permitted Subscription (APS) ISA allowance. This APS ISA allowance is in addition to your personal annual ISA allowance and you qualify for it regardless of whether you inherit the assets from your spouse or civil partner’s ISA as cash or shares.
Most people with spouses or civil partners who held an ISA and who died on or after 3 December 2014 will be eligible for an APS ISA. The only reason you might not qualify is if you were not living with your spouse or civil partner when they died because you were separated under a court order or a deed of separation, or in circumstances where your marriage or civil partnership had broken down.
Useful contacts
‘Tell Us Once’ service
Use the Government's 'Tell Us Once' service to inform several government bodies of a death, in one go. This service will inform HMRC, the Department of Work and Pensions, the Passport Office, the DVLA, local councils and more.
