when the succession drags on… but this delay brings money to the heirs

The stock market policeman’s mediator details in his monthly dashboard the case of an estate with abnormally long lead times for a stock savings plan. But, this time, the extension of the deadlines has enabled the heirs to realize additional added value.

A long processing time, although abnormal, can prove beneficial to heirs: Marielle Cohen-Branche, mediator of the Autorité des marchés financiers (AMF), chose litigation with a counter-intuitive outcome for her monthly post of June 2022, published on its logbook.

In short: following the death of Mr. A., his heir, Mrs. A, asks establishment X to proceed with the sale of the securities held in the equity savings plan (PEA) of his deceased father. A request sent by mail, with the act of dcs and the contact details of the notary, in September 2020. Without continuation. It was not until July 26, 2021 that establishment X informed Madame A that the securities were being sold and then, after a reminder in September, that the PEA was being closed, says Marielle Cohen-Branche on his dashboard. New twist, and new deadline: in November 2021 the transfer goes by mistake to the wrong notarial office, which rejects the transaction. Mrs A sought the help of the AMF mediator in December 2021… so that, finally, in February 2022them funds be verss on the account of the notary in charge of the succession.

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The establishment ended up explaining to the AMF mediator that the September 2020 account statement showed the holding of 117 shares valued at 3676.14 euros and a cash balance of 41322.32 euros. The shares were sold in July 2021 for 5,731.24 euros… and the establishment therefore ended up paying 46,615.59 euros to the heir. Result: Although the notary instructions were carried out late, the line of securities of 3673.14 euros was valued by more than 2000 euros during the period concerned, explains the AMF mediator. Finally, Mrs. A not having had an urgent need for cash during this period, this abnormally long delay was ultimately beneficial to him, financially speaking. This did not prevent Marielle Cohen-Branche from calling the establishment in question to order: a delay of almost a year for a succession without complexity remains despite this particularly regrettable favorable outcome.

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