Sorting out a loved one’s estate is hard enough without hitting an unexpected hurdle. Yet time and again, families in the UK discover that Grandad quietly held shares in an American or Canadian company – and that selling or transferring them is nowhere near as simple as they hoped. If that sounds familiar, you have almost certainly come across the words “medallion signature guarantee”.
So what is it? In short, it is a special stamp that US and Canadian financial institutions insist on before they will allow overseas shares to be transferred or sold. It confirms that your signature is genuine and that you have the authority to act. It is not the same as a solicitor’s certification or a notary stamp, and this is where a lot of people get caught out – the American registrar will simply reject anything else.
The tricky part for UK residents is that very few places over here are actually authorised to provide the guarantee. People often spend weeks going back and forth with banks and registrars, sending original share certificates across the Atlantic, before they find the right service. In the middle of dealing with probate, that is the last thing anyone needs.
The good news is that it does not have to be complicated. With the correct paperwork – usually proof of identity, evidence of ownership and, where relevant, grant of probate – the guarantee can be arranged properly the first time, saving you the delays and posted certificates that cause so much worry.
If you are dealing with US or Canadian shares as part of an estate or a personal holding, the team behind Medallion Signature Guarantee can explain exactly what you need and handle it correctly for you. You can find out more at medallionsignature.co.uk/.
