Mother died leaving a substantial amount in largely cash-based ETFs. Probate has been granted to one of two beneficiaries and now trying to transfer the holdings into the estate.
- Advice from the manager's registry is they will do redemption and repurchase which will be a capital gains event. I understand they could do an off-market transfer tied to the will (not sure of term) which would avoid a capital gains event.
- The will requires the executor to manage the assets prudently and cash-based investment returns are very low. Both beneficiaries want to move the estate investment to a greater proportion of higher risk ETFs until it is wound up. The advice (from the manager's broker ??) is once ETFs are moved into the estate they can't be redeemed and other ETFs purchased within the estate (ie current investment locked in).
