How do we realise the value of these?

No. The will is just the first step. If your friend is named in the will as executor (and not just as an heir), then fine, otherwise (s)he will first need to go to court to be appointed executor. Also in the absence of a will this would need to be done, and it would normally be one of the main heirs that gets appointed.

An inventory of assets needs to be compiled and submitted to the Inland Revenue, though I suppose this can be dispensed with for small estates on which no Inheritance Tax is due. Once any tax has been paid, the IR will give their seal of approval, with which you can then go to court to obtain probate. This is magic authority which entitles the executor to approach holders of any funds and require them to be released, and similarly it is authority to sell or transfer share certificates etc on behalf of the estate.

Yes

Convertible Stock ie the term & interest rate can be changed

Full explanation here

The Bank of England brokerage service is likely to be the cheapest way to sell government stock (aka gilts) -

Deal type Commission Rate Minimum Charge Buy up to £5000 0.7% £12.50 Buy over £5000 £35 plus 0.375% of the amount in excess of £5,000 £35 Sell up to £5000 0.7% None Sell over £5000 £35 plus 0.375% of the amount in excess of £5,000 £35

For more general probate info. try and The Motley Fool Wills & Probate board -

hth

Daytona

The message from Ronald Raygun contains these words:

Thanks for the info, much appreciated. Jim

The message from Daytona contains these words:

Thanks that was a great help. Cheers Jim