A some what dangerous practice indeed. Why not wait for the Death Certificate. Not too much delay and only then can one be sure that the informal notification has NOT been mischievous or fraudulent.
In the case of a probate taking many months or years, (and this can be estimated) surely the portfolio should be kept as it was and fully invested!
In order to give you the best site experience, we need to know what kind of investor you are. Please select the title that best describes you below.
Financial Advisers - Investment
Financial Advisers - SMSFs
Individual Investors with SMSFs
Financial Advisers - Insurance
Accountants and Solicitors
Financial Services Professional