Aust Probate

S E R V I C E S

Since its formation Australian Probate Bonds Underwriting Agency (APBUA) has been exclusively involved in assisting the representatives of deceased Shareholder estates in facilitating the transfer of shares in publicly listed Companies.

Historically the Share Registrars of publicly listed Companies have not been willing to allow the transfer of shares in their company which have been held by deceased shareholders without the estate first obtaining a Grant Of Probate. This prudent requirement (from the Registrar's perspective) has, however, caused many estates to incur significant expense and to be burdened with administrative obligations.

As an option APBUA, in cooperation with the country's leading Share Registrars, has developed a new, more shareholder focused, alternative. This arrangement involves the issue of a Transfer Indemnity Bond which is a Third Party Guarantee issued on behalf of the estate's representatives. It is given to the Public Company to satisfy their need that they have protection against the risks associated with the transfer of the shares in question to the wrong party. This alternative helps to speed up the transfer process by eliminating the months of waiting for the Grant of Probate to be processed, therefore allowing the share entitlements to be passed on to the estate's beneficiaries much more quickly and usually at a lower cost.

Now, the vast majority of Australian Public Companies recognise and support the Transfer Indemnity Bond alternative of which APBUA is the market pioneer. APBUA assures all clients that their enquiries will be handled promptly and professionally and that our personnel will be sensitive to the needs of our clients, particularly those who have suffered a bereavement. All information provided by clients is kept secured and APBUA commits to ensuring compliance with all aspects of the current privacy laws.

Increasingly our service is being used by Deceased estates where the asset is an 'Accommodation Bond' held by an Aged Care provider. APBUA's service can assist in the speedy repayment of these assets.

Many of the countries largest Banks and Building Societies are actively considering adopting the Transfer Indemnity Bond initiative for the benefit of their deceased customer estates.

For further information about these current developments in new ways APBUA's service can benefit deceased estates with outstanding Aged Care Accommodation Bonds, Bank and Building Society accounts please contact us.