Terminology question - transfer from (intestate) deceased estate

Discussion in 'Wills & Estate Planning' started by qak, 5th Apr, 2018.

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  1. qak

    qak Well-Known Member

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    I was granted Letters of Administration and have the very last transfer forms to complete in relation to units in a managed fund.

    When I did the off-market transfer forms for CommSec their instructions were to use "devised in Will" in the consideration section. They processed these with no issue at all. But - technically there was no Will, and the distribution is as per the Letters of Admin (ie equal split between two beneficiaries).

    What would the correct terminology be?

    (hopefully @Terry_w will make a suggestion?)
     
    qak, 5th Apr, 2018
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  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    intestacy laws
     
    Terry_w, 5th Apr, 2018
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  3. qak

    qak Well-Known Member

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    So I could write "Devised under intestacy laws"?
     
    qak, 5th Apr, 2018
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  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    Probably. This is not a legal issue though, just an administrative issue so check with Commsec
     
    Terry_w, 5th Apr, 2018
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