The assets we typically deal with are:
Shares in Public Companies
Units in Managed Funds
We can obtain a reseal of the foreign Grant in an Australian Court. Find out more
Where a reseal is not able to be obtained we can apply for a full local Grant of Administration. Find out more
Once the Reseal or Grant is obtained the assets can be transferred or realised. Find out more
Funds held for deceased’s employees or insurance funds to upon their death can be claimed by us. Find out more
Bankruptcy searches, claiming Unclaimed Funds held by Government, issuing Transfer Indemnity Bonds, stamping of documents and locating beneficiaries. Find out more
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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!
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.
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.