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Greetings,
To the extent this question has already been asked and answered elsewhere in the forums, I apologize, and if a member could direct me to the discussion it would be appreciated. Otherwise, any assistance answering my questions would also be very much appreciated.
My question concerns the process of performing an off-market transfer of shares into the names of the beneficiaries of an estate. I am familiar with the process in New Zealand which involves preparing an off-market transfer form to be sent to either Computershare or Link Market Services (depending upon which registry holds the shares) who in turn will effectuate the transfer.
I have been told by a couple of NZ stockbrokers that the process in Australia is a lot more complex and the simplest thing would be to sell the shares. I don’t believe everything I’m told, thus this query.
The shares were originally registered in the sub-registries of the respective companies and it is my belief that this is still the case. Could someone please advise what would be the process to split these shares amongest the beneficiaries who can then decide whether to sell them, or hold them until the market improves?
Additionally, what would be the process to verify with the respective company sub-registries under whose name the shares are currently held? I don’t believe the executors ever transferred the shares out of the decedent into their names as executors of the estate.
Thanks in advance.
Warwick613
To the extent this question has already been asked and answered elsewhere in the forums, I apologize, and if a member could direct me to the discussion it would be appreciated. Otherwise, any assistance answering my questions would also be very much appreciated.
My question concerns the process of performing an off-market transfer of shares into the names of the beneficiaries of an estate. I am familiar with the process in New Zealand which involves preparing an off-market transfer form to be sent to either Computershare or Link Market Services (depending upon which registry holds the shares) who in turn will effectuate the transfer.
I have been told by a couple of NZ stockbrokers that the process in Australia is a lot more complex and the simplest thing would be to sell the shares. I don’t believe everything I’m told, thus this query.
The shares were originally registered in the sub-registries of the respective companies and it is my belief that this is still the case. Could someone please advise what would be the process to split these shares amongest the beneficiaries who can then decide whether to sell them, or hold them until the market improves?
Additionally, what would be the process to verify with the respective company sub-registries under whose name the shares are currently held? I don’t believe the executors ever transferred the shares out of the decedent into their names as executors of the estate.
Thanks in advance.
Warwick613
