Dealing with the Loss of a Loved One

The loss of a loved one is profoundly challenging, and the responsibilities of managing their deceased estate can add significantly to the emotional burden*. Often, these estates include important assets such as ASX-listed shares from companies like CBA, AMP, IAG, Telstra or Woolworths, which can complicate the settlement process. At One Off Trades*, they specialise in simplifying these complex tasks. Their goal is to ensure that you can focus on healing and remembrance by providing a streamlined, compassionate approach to managing your loved one's financial legacy*.

You do not have to deal with a complex deceased estate alone. Image source: One Off Trades.

Immediate Steps After Losing a Loved One

In the aftermath of a loss, knowing the practical steps to take can help manage the overwhelming feelings of grief. Here's what needs to be addressed promptly:

1. Obtain a Death Certificate: This legal document is indispensable for all legal and financial procedures related to the estate.
2. Determine the Need for Probate: Probate may be necessary to validate the deceased’s will and authorise the executor to act on behalf of the estate. This process confirms the legal authority to manage the deceased's assets according to their wishes.
3. Secure Important Documents: Gather the will, trust documents, and comprehensive financial records, which will be crucial for detailed planning and execution of estate matters.

Selling Shares from a Deceased Estate - Simplified

The task of selling shares from a deceased estate might initially seem daunting, filled with complex legal issues and numerous procedural steps*. However, One Off Trades demystifies this process* through a series of straightforward actions:

• Online Share Sale Form: Begin by filling out One Off Trades’ online form*, which collects all necessary information about the deceased's shareholdings.
• Document Submission: A certified copy of the probate or the will, along with the death certificate, needs to be uploaded to share sale form or sent directly via email. The certification of these documents ensures their validity and is a crucial step in the process.
• Identity Verification: It’s essential for executors to verify their identity through our secure online system. This step not only protects the estate's assets but also ensures compliance with legal standards.
• Completion of Sale: Once verification is complete and all documentation is in order, One Off Trades will handle the sale of the shares*. They ensure that the proceeds from the sale are deposited into either the estate’s nominated bank account or a solicitor’s trust account, according to your specifications.

Detailed Guidance on Common Scenarios

Handling deceased estates can vary significantly from one case to another, involving straightforward single-beneficiary scenarios to more complex situations with multiple assets and stakeholders:

• Probate Requirements: The One Off Trades’ team provides end-to-end guidance on navigating* through probate, helping executors understand when this step is necessary and assisting them through the complexities of the process.
• Jointly Held Shares (Joint Tenancies): In cases where shares are held in joint tenancy, can assist in selling shares under the survivorship rules, which can simplify the transfer process, potentially bypassing some of the typical procedures required for sole holdings.

Why Choose One Off Trades?*

One Off Trades is distinctively positioned to manage the logistical aspects of share sales* while providing unmatched support during this tough time. Their expertise is backed by a high level of customer satisfaction*, with options for rapid transactions and even same-day sales for clients needing faster access to funds. Here's why many choose One Off Trades:*

• Personalised Attention: They treat each case with the unique attention it deserves*, understanding the sensitive nature of each situation.
• Security and Trust: They are fully compliant with financial regulations*, ensuring that all transactions are secure and your personal information is rigorously protected.
• Efficiency: Whether you choose their standard or express service, they work diligently to complete transactions swiftly, ensuring timely transfer of funds*.

​

Getting Started

To initiate the sale of shares from a deceased estate, simply visit the One Off Trades website* and fill out the Deceased Estate Share Sale Form*. Their dedicated team is ready to guide you through every step of the process*. If you have any questions or need further assistance, their help desk and live chat service are available to provide support.

One Off Trades*: Your Trusted Partner in Managing Deceased Estate Shares

Choosing One Off Trades* means selecting a partner who respects the significance of your task and supports you throughout the entire process. They are here to simplify the complexities of deceased estate management, allowing you to honour your loved one’s legacy with peace, dignity, and integrity.

With a strong reputation as Australia’s most trusted sell-only broker*, One Off Trades has assisted over 50,000 clients in selling more than $400 million in shares since its inception*. Their efficient, client-friendly approach demystifies the complex process of selling shares, making it accessible even to those with little to no experience in the share market*. This proven track record underscores our commitment to providing reliable and straightforward services tailored to your needs.

*Please note, members, that this is a sponsored article. AAll content of ours that has an asterisk next to it means it is a paid sponsorship – at no cost to you! We do this to assist with the costs of running the SDC. Thank you!

Disclaimer

Australian Financial Services Corporation (AFSC) Pty Ltd (ABN 85 632 842 623), trading as One Off Trades, provides execution-only services and does not provide either general or specific advice. We recommend you obtain financial, legal and taxation advice before making any financial investment decision. AFSC Pty Ltd is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872). For information relating to our financial services, you should refer to our Financial Services Guide.

 

[IanB.]

Tips from recent and on going , and on going , and on going experience
Don't rush into the funeral ; give family/friends 7-10 days or more to get themselves organizing .

Try not to have too many making the same decisions --- one cleans out of the house ---- another sorts out the money ---- same goes for organizing the funeral ; it's easy to blow the budget/spend far too much .
1] talk to/explain your will to all beneficiaries and make changes if necessary ---- we have $300+K drama because that didn't happen .
2] Power of eternity should check the will ---- would have saved the all the above hassles and expense .

Elderly people should cash in all their shares/property (not personal home) to make it quicker/easier to have the estate settled --- read 1. They should also make funeral arrangements.
It seem lawyers and financial advisers can disagree and that adds to costs . (Personally I feel there needs to be a professional group who can handle it all!
Add a clause into the will to say if someone contests the will ; they will receive $00000 if they don't win (Frank Sinartra did that ; guess what ? )

Off topic : when it comes to personal home/property ; people should itemize their wishes and clear out as match as they can. . Most big stuff will not/can not be used by the family . It's the little things we treasure the most ; even that old spoon .

Those left to clear it ALL up: >>>> Put the heart into neutral and the brain into top gear.
Don't put anything into storage for later --- later becomes later , and later again and forever
Don't rush into the clean up (not easy for some)

Don't just chuck it all out into a skip ---- donate as much as possible.
If selling stuff ; price it to sell -----put the heart into neutral and the brain into top gear (facebook buyers can be a total pain in the arse! Set rules )

It can all take a l o n g time ---- we are looking 12-18 months even if I don't understand why!!

Dying can be expensive

 

[Luckyus]

Tips from recent and on going , and on going , and on going experience
Don't rush into the funeral ; give family/friends 7-10 days or more to get themselves organizing .

Try not to have too many making the same decisions --- one cleans out of the house ---- another sorts out the money ---- same goes for organizing the funeral ; it's easy to blow the budget/spend far too much .
1] talk to/explain your will to all beneficiaries and make changes if necessary ---- we have $300+K drama because that didn't happen .
2] Power of eternity should check the will ---- would have saved the all the above hassles and expense .

Elderly people should cash in all their shares/property (not personal home) to make it quicker/easier to have the estate settled --- read 1. They should also make funeral arrangements.
It seem lawyers and financial advisers can disagree and that adds to costs . (Personally I feel there needs to be a professional group who can handle it all!
Add a clause into the will to say if someone contests the will ; they will receive $00000 if they don't win (Frank Sinartra did that ; guess what ? )

Off topic : when it comes to personal home/property ; people should itemize their wishes and clear out as match as they can. . Most big stuff will not/can not be used by the family . It's the little things we treasure the most ; even that old spoon .

Those left to clear it ALL up: >>>> Put the heart into neutral and the brain into top gear.
Don't put anything into storage for later --- later becomes later , and later again and forever
Don't rush into the clean up (not easy for some)

Don't just chuck it all out into a skip ---- donate as much as possible.
If selling stuff ; price it to sell -----put the heart into neutral and the brain into top gear (facebook buyers can be a total pain in the arse! Set rules )

It can all take a l o n g time ---- we are looking 12-18 months even if I don't understand why!!

Dying can be expensive

 

[Luckyus]

I've left my body to science so thats one worry off my wifes problems, bank accounts in both names. If I'm aware of further failing health I'll have my name taken off the deeds, If I don't manage I've told her get it done first thing. In the event that I get a personal bank account for whatever reason, that information will be in the letter I have left Everything else personal items? tools etc are hers to do with what wants. I will be shortly be selling bits and pieces, like a collection that nobody in the family seems to have any interest in any gold items not to sell under current gold prices.

 

[DianeE$]

Does anyone know of a Company who deals with shares and can assist. We have misplaced some of our addresses on our shares, a nightmare to get the companies to change address if you can't remember previous one. Especially when you are old and have changed address a number of times.

 

[OzTraveller]

I have all my shares consolidated with Computershare

https://www-au.computershare.com/

https://www-au.computershare.com/Investor/#contact?cc=au

They might be able to help you.

For tax purpose, I buy the yearly Investor Centre Portfolio Tax Pack for $55. Well worth the money

 

[IanB.]

I've left my body to science so thats one worry off my wifes problems, bank accounts in both names. If I'm aware of further failing health I'll have my name taken off the deeds, If I don't manage I've told her get it done first thing. In the event that I get a personal bank account for whatever reason, that information will be in the letter I have left Everything else personal items? tools etc are hers to do with what wants. I will be shortly be selling bits and pieces, like a collection that nobody in the family seems to have any interest in any gold items not to sell under current gold prices.

Wonderful approach
Bank accounts -- have you checked that will work in her favour ?

 

[IanB.]

BTW peeps ; don't forget to write down ALL your passwords to include in your will . My daughter has a back up copy of mine