
Fidelity's bereavement process
Making difficult times a little easier
Losing someone close to you can be very difficult. And, if you’re responsible for handling their estate and carrying out their wishes, it can also be confusing and stressful.
We hope this page will make the process of dealing with any investments held with Fidelity that bit smoother. You can also download this information as a PDF.
If you'd like to start the process online now, please let us know by notifying us of the bereavement.
What to do when an investor dies
Working out what to do when a relative or someone close to you dies can be overwhelming. However, when it comes to dealing with investments or pensions held with Fidelity, there are just three things you need to think about:
1. Let us know
2. Obtain probate
3. Distribute the assets
1. How to let us know
You can notify us online, write, or call to tell us an investor has died. Where possible, it’s worth notifying us online first, and as soon as you can. That way we can start the process while we wait for your accompanying documents.
You'll also need to send us an original or certified copy of the death certificate. And, if it's available, the grant of representation (known as Certificate of Confirmation in Scotland). Please send all your documents to Fidelity International, PO Box 391, Tadworth, KT20 9FU. We always return the original copy of the death certificate as soon as possible.
To call us: 0800 41 41 16.
To write to us: Fidelity International, PO Box 391, Tadworth, KT20 9FU.
What we’ll do next
- Put a hold on the account, stop any dealing and reinvest any income generated by the investments
- Stop any regular savings or withdrawal plans. Please keep in mind that contributions made after the date of death will be returned as they cannot be accepted. This can happen if an investor dies before their contribution is processed.
- Register you as the primary point of contact for the estate so that you receive all communications and can notify other parties accordingly
- Remove the investor’s name from any joint accounts they held
- Produce a valuation of the investor’s account on the day they died – you may need this for Inheritance Tax purposes or when applying for a grant of representation
What you need to do next
- Contact us again when you have the grant of representation or a completed Small Estates Form.
FAQs about how to let us know
There’s a time limit for using allowances on some investments. Take ISAs for example, the tax-wrapper is removed three years from the date the account holder has died.
Three years might sound lengthy, but the bereavement process could take months (or even years), from beginning to end. Particularly if the case is complex or Grant of Probate is needed.
If this is relevant to your case, we’ll talk to you about it once you’ve started the process.
A grant of representation is the general term for a legal document that shows you can deal with the estate of someone who has died. If you’re named on the person’s Will as an executor, you will normally apply to the Courts for a Grant of Probate (or Certificate of Confirmation in Scotland). If there is no Will, someone (usually next of kin) must apply for a Grant of Letters of Administration instead. Just to confuse matters, the whole process is often referred to as ‘Probate’.
You can send us original or certified copies of the death certificate or the grant of representation. Our certification requirements are detailed on our guide. If you send us any original documents, we will send them back to you as soon as possible.
We will continue to charge a Service Fee and a Fidelity Advisor Solutions fee for the administration of the account until the assets are distributed and the account is closed. However, if there is a financial adviser linked to the account, any regular fees to them will stop when we receive a death certificate or grant of representation.
Our pension trustees are responsible for deciding who benefits from the pension. They will write to you and tell you what additional information they need, such as details of trusts set up by the deceased, full names of any financial dependents, and copies of birth/marriage certificates.
If the person who died was the registered contact for a Junior ISA, we will send you a form that allows someone else to take over that role.
2. How to obtain probate
You’ll need to send us a sealed copy of the grant of representation signed by each of the executors. Because of the legal language used, this is the part many people find daunting. However, it’s very important – without it, we cannot distribute any assets in line with the instructions in the Will.
How to apply for probate
You can do this yourself (or ask a solicitor) by applying to your local probate registry or sheriff court. It usually takes around two months to obtain a grant of representation but complex cases can take a year or more.
Applying for probate can be complicated. Guidance and support is available at gov.uk/applying-for-probate
Small estates
We can release money from the estate if you’re not applying for probate, if:
- the total value of the estate is less than the nil-band rate for Inheritance Tax,
- the total value of Fidelity investments in the estate is less than £50,000, and
- the person who died left a Will.
You will need to send us:
- a Small Estates form - which must be signed and witnessed,
- a completed form to sell or transfer the investments (see Distributing the assets lower down on this page), and
- the original or certified copy of the Will.
If you're ready to start the bereavement process now, you can notify us online.
FAQs about probate
If the investor was a child, it’s likely that we’ll be able to accept a Small Estates Form and pass on the value of the investments to the beneficiary.
When we receive the death certificate, we will remove the deceased investor’s name from any joint account. No grant of representation is required - the account(s) will continue to operate as before.
We can’t usually distribute any assets until we receive a court-sealed grant of representation. However, we can release monies directly to HM Revenue and Customs for Inheritance Tax, or to a funeral director (if you send us the invoice). Send us a completed Declaration and Indemnity Form, together with a certified copy of the Will.
Although the assets can’t usually be touched, they will remain invested – which means the value could go down in value as well as up. If you’re worried about a possible loss in value, stocks and shares ISAs and general investments (but not pensions) can be switched to cash.
You’ll need to send us a completed Declaration and Indemnity Form, plus the original or certified copy of the Will.
If they were living in certain current or former Commonwealth countries, it's possible to have the foreign grant of representation 're-sealed' by a UK probate registry (or sheriff court) for use here. For all other countries or dependencies (including Ireland, the Isle of Man and the Channel Islands), a fresh application to the probate registry will be required.
3. How to distribute the assets
This is the point when beneficiaries decide whether they’d like us to invest the money into a new account, transfer the investments into a new name, or sell them and send them the cash. There are forms to complete, potentially tax to pay, and different rules depending on the type of account.
What you need to do
Read the options below to decide what you want to do with the investments. Once you have downloaded the relevant forms, complete them and send them to us along with the grant of representation or Small Estates Form. To enable us to complete our identity verification checks, please ensure the Executor’s date of birth is provided where requested. We may need to contact you if you don’t provide the Executor’s date of birth where requested which may cause delays to your application.
If you want us to transfer the investments into new names:
- If you are the spouse or civil partner and want to transfer an ISA within Fidelity, you will need to complete an Inherited ISA Allowance Form
- To transfer an Investment Account within Fidelity, you will need to complete a Moving Assets to an Investment Account on the death of a Fidelity Investor Form
- If you’re transferring the investments to a joint account you’ll also need to complete a Joint Holder Supplement Form
If you want us to sell the investments:
If beneficiaries want to use the money to invest in an ISA:
- Complete a Selling in the event of the death of a Fidelity Investor Form
- Complete an Investment ISA Application Form to open a new ISA or to add money to an existing Fidelity ISA
What we’ll do next
- Complete our identity verification checks
- Carry out your instructions, and keep you informed by letter
- Send you confirmation of each sale or transfer, plus a closing statement
- If you’ve asked us to sell the investments, we’ll pay the money to you, so you can pass it on to the beneficiary
FAQs about distributing assets
The spouse or civil partner of someone who has died on or after 3 December 2014 can inherit that person’s ISA tax benefits. This is on top of their own personal ISA allowance.
- If the investor died between 3 December 2014 and 5 April 2018, the allowance equals the value of the ISA on the date of death
- If the investor died on or after 6 April 2018, the allowance equals the value of the ISA on the date of death or the value on the date the account closes – whichever is higher
The increased ISA allowance can be used for up to 180 days after the administration of the estate is complete.
As the executor or administrator, you’ll need to complete an Inherited ISA Transfer Form and send it to us.
There are situations when Income Tax or Capital Gains Tax may be due. We can give you the figures you need to help calculate how much you might owe, but we can’t offer tax advice. It’s best to talk to a tax expert.
We don’t charge for selling or transferring accounts - but there may be charges for dealing in certain types of investments.
If there are deals in progress, we'll transfer what we can and move any remaining investments when the deals have completed. If we receive any income (such as dividends or interest) from investments that have been sold or transferred after the account has been closed, we’ll follow the original instruction and pay out or transfer to the beneficiary’s account. This will happen at least six months after the account is closed.
In most cases, no. But if the Will mentions a trust, call our specialist trust team on 0800 41 41 16 and they’ll do their best to help.
Extra help and support
More Fidelity help and support
Don't see an answer to your question here? We have many more helpful FAQs to help you understand the bereavement process.
See our other bereavement FAQs
Other helpful links
Citizens Advice Bureau – adviceguide.org.uk
The Money Advice Service - moneyadviceservice.org.uk
Bereavement Advice Centre – bereavementadvice.org
Government sites – gov.uk or Scotland.gov.uk
Cruse Bereavement Care – cruse.org.uk
Contacting Fidelity
Call our dedicated bereavement team on 0800 41 41 16 - we’re open Monday to Friday from 8:30am to 5:30pm, and on Saturdays from 9am to 12:30pm.
Fidelity International
PO Box 391
Tadworth
KT20 9FU