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Bereavement

Get help and support in dealing with the investments of someone who has died


Losing someone close to you is hard. And having to deal with financial practicalities on top of your grief can feel overwhelming. We’re here to support you through this difficult time and make it as easy as possible to deal with the M&G investments of your loved one.

On this page we will 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.

If you would like to talk to someone about what happens next, our dedicated bereavement team are also on hand, simply call 0800 390 390*, we are available from 08:00 to 18:00 (UK time) Monday to Friday, and 09:00 to 13:00 (UK time) on Saturday. If you are based outside of the UK (during our UK opening times), please call +44 1268 448 031.

*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.

Download our Bereavement Guide

Losing someone you love can be devastating, but there are a number of organisations who can help you cope with your loss.

  • Age UK provides information and advice for people over 50.
  • The Bereavement Advice Centre supports and advises you on what to do after a death.
  • Citizens Advice offers free, independent, confidential and impartial advice on your rights and responsibilities.
  • Cruse Bereavement Care has a free helpline for coping with grief.
  • Gov.uk explains how to register a death and has a step-by-step practical guide to bereavement.

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 to take. Below is a short explanation of what happens at each one – if you’d like more detail please download our Bereavement Guide.

The first thing to do is tell us that an M&G investor has died. You can do this by phone and we will try to verify the death electronically. If we are unable to, we will need you to send us the original death certificate. We will be able to discuss details of how to upload these documents online. If that is not possible you will need to send the death certificate together with a covering letter.

The covering letter should include:

  • Deceased’s full name, full address, date of birth and M&G client reference(s).
  • Name and address 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 will do

Once we receive the death certificate, we will put a hold on any sole accounts and remove the investor’s name from any joint accounts. We will arrange for correspondence to be sent to you and return the death certificate by recorded delivery as soon as possible. For sole accounts we will then send you a valuation of the investor’s account on the day they died – you might need this for probate purposes. The valuation will also confirm the investments and fund(s) held.

Download our Bereavement Guide for full details of what happens once we’ve received the death certificate.

Next we will want to confirm who has legal responsibility for distributing the investor’s estate.

To confirm probate, we will need you to send us a Grant of Representation, together with the Executor Notification form, signed by each of the executors. You can send us a copy of the Grant of Representation or the Small Estates Form electronically via document upload. We will be able to discuss with you details of how to upload documents electronically.

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.

However, if the investments of your loved one are £36,000 or less, you don’t need to get probate and can complete a Small Estates form instead.

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.

Inheritance Tax must be paid prior to a Grant of Representation being issued. We are 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 have received the Grant of Representation.

What we will do

Once we receive either the Grant of Representation or Small Estates form and we have all the required documentation and verified the identity of the Executors/Personal Representatives, you will be able to begin distribution in line with your loved one’s wishes.

Download our Bereavement Guide for full details of what happens during this second step.

The final step, this is the point 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.

Click either of the tabs below to see the process for each option depending on the type of investment you’ve inherited.

Why choose to reinvest or transfer?

If you don’t need the cash straight away you might consider keeping all, or some, of the money you’ve inherited, invested until a later date.

This could give the value of your inheritance the potential to grow through investment returns. Though all investments can fall as well as rise in value so you could get back less than invested.

Your goals for the future, how comfortable you are making investment decisions, and how you feel about taking risks, will all determine whether investing or transferring an investment into your name is right for you.

To instruct us to transfer OEIC or Savings Plan funds directly to the beneficiaries, you’ll need to send us the following forms:

 

What we will 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 will send the Beneficiary a welcome brochure and the purchase confirmations.

 

And we will send to the first named Executor/Personal Representative the individual withdrawal confirmations.

To instruct us to reinvest into an ISA, you’ll need to send us a completed M&G ISA Application Form, with a covering 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.

The letter must be signed and dated by the Executors/Personal Representatives as they are responsible for the existing investments. The application form must be signed by the Beneficiary/New Investor. 

 

What we will do

Once we’ve received your covering letter and M&G ISA Application Form, the new investment will be in place within two working days.

 

We will send the Beneficiary a welcome brochure and the purchase confirmations.

 

And we will send to 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:

What we will 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 will send the Beneficiary a welcome brochure and the purchase confirmations.

 

And we will send to the first named Executor/Personal Representative the individual withdrawal confirmations.

If you prefer, you may wish to cash-in your investments and receive the proceeds. We will sell the investment at the next available valuation point and can make payment by cheque or bank transfer.

To sell the investment you can either:

  • Call us on 0800 390 390. If there is more than one Executor/Personal Representative, and they are all not present on the call, we are still able to sell the investment, however, we will 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 will do

We will 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 will send the proceeds within three working days.

Further information

Financial or tax advice?

For queries regarding tax, you may wish to speak to a financial adviser or accountant as we are unable to offer tax advice.

 

Find out more

Glossary

We’ve put together a list of the most common financial jargon you might hear when investing and explained it all in plain English.

 

Glossary

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