by Azzazur   09/08/2020  0 Page Views
1 Comments  Wills, probate, letters of administration, powers of attorney

My dad passed away in 2013. I never objected to the will; however, it was very unfair in favour of my brother. Earlier this year my brother rang me saying he was going to have to sue a law firm to rectify an error made in 2010 pursuant to share transfers. In 2010 my father attempted to transfer a portfolio of shares into a private investment trust run by him and my brother. Most shares were transferred, however, share transfer forms for shares from three comparnies were filled out, however, sent to the wrong share registry and thus the transfer was never completed. The share registry returned the forms and they were never refiled, thus the shares remained under my father’s name and were never a part of the investment trust. Because there is no way of knowing my dad’s intention with regards to the final state of the shares as he never refiled the transfer form it raises some doubt to my brothers’ case which is arguing that the share transfer ought to be completed. It is of my opinion that since the shares were never transferred then they remained property of my father, still being under his name to today. However, that being said he did pay capital gains tax on the supposed disposal of shares which never occurred, the accountants obviously were never informed that the share transfer never took place and somewhere along the line there is an accounting error or some fraudulent activity because the investment trust has for years been receiving dividends from shares which have never been part of said investment trust. Again, as far as I can ascertain the shares were never parted from my father’s estate, perhaps dejure they were treated as such. But defacto they remained part of the trust and therefore it is my opinion they ought to be divided between stakeholders. I need some advice do I have enough plausible deniability to build a case that the shares were never meant to be transferred, or we have no way of knowing that they were. Some important auxiliary information is that my father delegated banking and accounting responsibilities to 3rd parties generally his employees, so it is questionable if the proper message was ever carried along the line of command so to speak.

Thanks