Book cost of shares and income tax

Trusts Discussion
1

Hello,

I have an estate with a large share portfolio.

There are two beneficiaries who wish to take on the portfolio equally and I understand that they can take on the ‘book cost’ as the date of death valuations.

My questions is if we do this who owns the dividend income between the death and the formal transfer? It is the estate or the recipients of the shares?

Many thanks

2

What provisions does the Will make? It sounds like these shares are part of residue rather than specific gifts.

Jack Harper