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Can my shares be transferred after death?

Feb 21 2013 09:44
A Fin24 user is wondering will happen to his share portfolio after his death. He writes:

Can my share portfolio be transferred to anyone upon my death or does it have to be sold and the money put into the estate?

Angelique Visser, chairperson of the Fiduciary Institute of South Africa responds:

The share portfolio can be transferred to the beneficiary and does not have to be sold in the event of death.

If there is however no cash in the estate to cover debts and administration costs, the executor may consider selling shares to cover the costs.

There may also be capital gains tax payable when the shares are transferred, and one has to ensure that provision is made for this tax liability.

It would be best for the Fin24 user to speak to a fiduciary practitioner who can assist him with his estate plan. He can also visit www.fidsa.org.za to find a Fisa member in his area.

 - Fin24

Do you have a pressing financial question on wills and trusts? Post it on our Money Clinic section and we will get an expert to answer your query.

Disclaimer: Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers.

Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner. 

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