The assets we typically deal with are:
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Shares in Public Companies
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Bank Accounts
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Real Property
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Units in Managed Funds
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Superannuation Funds
We provide a wide range of services specifically designed to assist executors, trustees and their legal providers in dealing with the Australian Assets of their Estates or Trusts.
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Resealing
We can obtain a reseal of the foreign Grant in an Australian Court. Find out more
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Local Grants
Where a reseal is not able to be obtained we can apply for a full local Grant of Administration. Find out more
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Asset Administration
Once the Reseal or Grant is obtained the assets can be transferred or realised. Find out more
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Superannuation Claims
Funds held for deceased’s employees or insurance funds to upon their death can be claimed by us. Find out more
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Other Services
Bankruptcy searches, claiming Unclaimed Funds held by Government, issuing Transfer Indemnity Bonds, stamping of documents and locating beneficiaries. Find out more
We provide a wide range of services specifically designed to assist executors, trustees and their legal providers in dealing with the Australian Assets of their Estates or Trusts.
Resealing of Probates and Letters of Administration
Essentially a “reseal” of a foreign Grant of Probate or Letters of Administration involves presenting that document to the local Court who then seals it with their own court seal. This then authenticates that document in the new jurisdiction.
Guidelines
There are no set guidelines as to when a Reseal may be required to enable Australian assets to be dealt with.
It is instead left to the policies of each particular institution with whom the deceased invested. Australia has eight states and territories all of whom have their own laws for Probate and deceased estate administration.
Process
I am always able to determine whether a Reseal is required, where it should be completed and thereafter arrange for it’s issue as quickly as the Courts can allow. Generally a reseal takes between 4-6 weeks to obtain.
Once the reseal is issued we can then deal with the assets as required.
Applying for Local Grants
In some instances there is either no overseas grant or the Country in which the Grant was originally issued is not recognised under Australian Law.
Guidelines
It is necessary to apply for a full local grant. This involves proving the foreign Will or entitlements on Intestacy in the relevant Australian State or Territory.
Process
In all cases I am able to obtain these grants where necessary. Generally a local Grant takes between 6-8 weeks to obtain.
Once obtained we can then deal with the assets as required.
Asset Administration
Guidelines
Transfer to executors or beneficiaries
We prepare the necessary transmission or transfer documents and lodge these with the relevant institution to ensure proper title passes from the deceased to the executors and / or beneficiaries. After completion the new title documents are issued directly to the executors and / or beneficiaries.
Realisation of Assets
In many cases, all assets held are to be realised. We can attend to this through local brokers, estate agents or banks or deal directly with clients existing contacts if available.
In all cases we account fully for all transactions and transmit proceeds in the currency of your choice directly to your nominated bank account.
Process
Once the Reseal or Local Grant is obtained the legal formalities of the relevant institution can be completed and the assets can be dealt with by either transfer or sale.
Superannuation Claims
Australia has a compulsory Superannuation Scheme for all workers. As a result when someone passes away they are more than likely due some form of benefit under their employers superannuation fund. Some of these are quite large.
Guidelines
The payment of these funds does not normally fall within the scope of the State Probate Laws but rather is under the Commonwealth SIS Act.
When temporary residents or recent immigrants pass away there is a need for a local agent to act in claiming these funds.
Process
APEARS has dealt with many of these claims in the past and more often than not this involves obtaining Letters of Administration on behalf of the non resident relatives of the deceased and completing various claim forms and taxation matters for the estate.
For any superannuation queries APEARS can assist.
Other Services
Our broad experience enables us to provide a diverse range of services to our clients.
Obtaining Statutory Clearances in Lieu of Resealing
This involves having all necessary indemnities and declarations completed by the executors where the value of each asset does not require a reseal or insurance bond. Most institutions have varying requirements and I am able to have all documents completed at the same time.
Bankruptcy Searches
Foreign executors often have to distribute estate entitlements to beneficiaries In Australia. as part of their normal obligations they should check that the beneficiary is not a bankrupt. APEARS can perform that service.
Assessing and Stamping of Unit Transfers
In Australia, off market transfers of non-listed unit holdings to beneficiaries and new trustees require assessment in some jurisdiction’s revenue offices. I can arrange for assessment and stamping of transfers, ensuring a speedier path to final registration.
Location of Beneficiaries
There are occasions where the last known residence of a beneficiary is in Australia somewhere. In these instances I am able to undertake initial searches and report findings. Of course not all beneficiaries want to be found!
Unclaimed / Lost Monies
I can locate and claim unclaimed monies that have been lodged with various Government agencies as a result of owners not having banked or lost their funds. Many institutions charge up to 25% for this service. APEARS is extremely competitive in this regard and has an excellent track record of efficiently collecting money for overseas clients.
Miscellaneous
I am also able to undertake ad hoc tasks such as obtaining death, birth and marriage certificates, opening bank accounts, advertising for missing Wills and liaising with estate agents on rental properties etc.