Selling shares from deceased estate?

[naddis01]

Hi,

Just after some information about selling some shares from a deceased estate. They are CHESS sponsored shares held through Leveraged Equities (who are unfortunatly not able to sell them). To enable the executors to sell them what options are available? Do the executors have to open an estate trading account (such as through etrate or similar) to transfer the shares to to then sell or is there an easier option??? One of the executors is currently overseas so signing transfer/opening account forms is a bit of an issue.

Thankyou in advance for any help.

 

[Krusty the Klown]

Hi,

Just after some information about selling some shares from a deceased estate. They are CHESS sponsored shares held through Leveraged Equities (who are unfortunatly not able to sell them). To enable the executors to sell them what options are available? Do the executors have to open an estate trading account (such as through etrate or similar) to transfer the shares to to then sell or is there an easier option??? One of the executors is currently overseas so signing transfer/opening account forms is a bit of an issue.

Thankyou in advance for any help.

Opening a trading account in the name of the estate is one option.

Another is Commsec who can do a one off non account trade. It costs about $75.

The shares can also be given to a beneficiary via off market transfer if the will allows it.

 

[naddis01]

Another is Commsec who can do a one off non account trade. It costs about $75.

The way I read the commsec site, you can only do one off trades with issuer sponsered shares. Is that right?

 

[Krusty the Klown]

The way I read the commsec site, you can only do one off trades with issuer sponsered shares. Is that right?

I'm not sure if you can do this through the web, this was about 5 years ago and my experience was that it was done by filling out a form and sending it to Commsec and it was executed by a dealer.

You may have to call them.