Dividing an Estate of shares

[billyaus]

Hi

Here is the situation:

There is a Family Trust of which parents are the current beneficiaries. On their death there are 3 siblings which will become the beneficiaries of the Trust which consists of a share portfolio only.

The discussion is around when the parents die; If two of the beneficiaries wanted to 'cash out' how is this best done?

and

If the third wanted to keep 'their 1/3' of the share portfolio in the Trust and collect the dividends can this be done?

How and what is the most tax effective way for this to happen?

Thanks

 

[burglar]

... The discussion is around when the parents die; If two of the beneficiaries wanted to 'cash out' how is this best done?

and

If the third wanted to keep 'their 1/3' of the share portfolio in the Trust and collect the dividends can this be done?

How and what is the most tax effective way for this to happen?

Thanks

It would be my guess that the answer to this vexing question would constitute financial advice.
This is a no-no at ASF.
I would be surprised if you get the response you were expecting.

My opinion (FWIW) go to a financial planner.

 

[skc]

My opinion (FWIW) go to a financial planner.

Probably an estate lawyer rather than a financial planner.

 

[billyaus]

Probably an estate lawyer rather than a financial planner.

Thank you for your advice, I shall seek the appropriate person for further direction.

 

[burglar]

... There is a Family Trust of which parents are the current beneficiaries. On their death ...

You make it sound as if they are your parents, ... and they are still alive.

 

[Valued]

You want to see a solicitor to find out the law behind how it's done i.e. when and how the beneficiaries can cash out then you need to see a financial planner if you want financial advice. You also will need an accountant come tax time.

 

[billyaus]

You make it sound as if they are your parents, ... and they are still alive.

They are my wife's parents and are still alive...they are trying to setup their estate to benefit each of their 3 daughters accordingly.