We recommend seeking specialist advice from a stockbroker experienced in deceased estates in regards to selling or transferring shares. Use a stockbroker to sell or transfer the shares on your behalf as there are many considerations and technicalities around the types of shares held.

The type of shares and their ownership will determine what can be done with the shares and if they form part of the estate or not.

Unless specified in the will the executor or administrator must consider whether the shares should be sold or transferred to one or more beneficiaries.

Generally speaking, shares should be transferred to the estate or executor/administrator’s name whilst being processed to ensure any dividends or interest are paid to the estate (which needs to be listed as income and declared in the estate’s income tax return).

Tax implications should also be considered when dealing with shares and you should seek independent financial advice to determine if Capital Gains Taxes will apply to the estate if shares are sold or transferred to a beneficiary.