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20/08/21
14:54
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Originally posted by Goodheart:
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In the USA one can nominate a beneficiary to receive one's share portfolio upon death. This has the advantage of avoiding costly probate A Transfer On Death also takes priority of a last will and testament. Has anyone any experience with a Transfer On Death of ASX share portfolio in Australia ? https://www.investopedia.com/terms/t/transferondeath.asp#:~:text=What%20Is%20Transfer%20on%20Death,death%20without%20going%20through%20probate.&text=With%20TOD%20registration%2C%20the%20named,as%20the%20person%20is%20alive.
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We received some shares from our father in his will. There was no tax payable on the inheritance, however his cost base is used for capital gains purposes. So when they are sold, a CG is paid.