Estate management

If you have recently lost someone close to you, we understand this may be a very difficult time. Below you will find a step by step guide on how to best manage their CommSec account.

What you need to do

Step 1: Notify us

To ensure the account of your recently deceased family member or friend is protected1, please notify us of their passing as soon as possible. You can do this by phoning us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time), or email us at commsecestatesmanagement@cba.com.au. Please provide us with the deceased’s:

  • full name
  • CommSec account number (if known)
  • address
  • date of birth
  • date of passing.

The property and assets of someone who has passed away is known as a ‘deceased estate’, so your notification will be received by our Estate Management team. Once your details have been verified, they will send you information on what to do next, and:

  • remove all authorities who have access to the account
  • restrict all trading
  • switch off any recurring fees.

Please note that from here, we are only able to take instruction from the Estate executor2, Administrator3 or appointed solicitor.

Step 2: Provide formal documentation

The documentation we will need depends on the CommSec account ‘type’ held by the deceased. We will send you a list, but if you already know the account type, please select from the below to find the general requirements:    

Once we receive this documentation, the shares in the account will nearly be ready for transferring or selling. At this point, we are able to provide more detailed account information, for example, details on the types of ‘holdings’ (assets) within the account, to help you decide what to do next.  

To understand the detailed account information we will be able to provide, please visit the Frequently Asked Question section below and navigate to ‘How can I find details of the account/s held by a deceased CommSec customer?’.

We’re here to help

We are very sorry for your loss, and we hope that you found this information helpful. For more information on managing the CommSec account of a deceased estate, please view the below Estate Management Frequently Asked Questions and glossary. Alternatively, please contact us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time), or email us at commsecestatesmanagement@cba.com.au

There are also a range of services outside of CommSec that may be able to provide you with helpful information, advice and guidance. 

Estate Management Frequently Asked Questions and glossary

In this instance, the documentation we require depends on the amount of holdings (assets) in the account. For accounts with less than $50,000 in holdings we require:

Option 1

  • a certified copy1 of a Probate2/Letter of administration3, or

Option 2

  • a certified copy1 of the Death certificate4, and
  • a certified copy1 of the Last will and testament (will)5, and
  • a Small estates indemnity form6.

For accounts with more than $50,000 in holdings we require:

  • a certified copy1 of a Probate2/Letter of administration3.

Please email the documentation to commsecestatesmanagement@cba.com.au or post to CommSec Estates Management, Locked bag 22, Australia Square, NSW 1215.

Once we receive the relevant documentation, the shares will need to be transferred. To do this, please complete an Off market transfer form for issuer to CHESS transactionsPlease note that fees may apply.

We’re here to help

If you have any questions, please contact us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time). Alternatively, you can email commsecestatesmanagement@cba.com.au

Important information

  1. A certified document must include the statement “I certify that this is a true copy of the original document” and include the full name, signature, date or certification and qualification/occupation of the certifier.
  2. A Probate is a document issued by the Supreme Court that confirms the validity of a will, and authorises the executor/s to act. Please note that if the Probate was issued in South Australia we will also require the Registrar certificates. If this was issued as an electronic grant after 26/11/2018, a non-certified copy is acceptable.
  3. A Letter of administration is a document granted by the Supreme Court giving authority to an administrator to collect and distribute the assets of the estate in the absence of a valid will.
  4. A Death certificate is an official document issued by the Registry of Births, Deaths and Marriages containing the information registered when someone passes away, including the date, place and cause of death.
  5. The Last will and testament (will) is a legal document in which a person specifies how they wish their estate to be distributed after their passing.
  6. Please note that all forms can be provided to us via email, with the exception of the Small estates indemnity form which must include a ‘wet ink’ or physical signature.

We can provide information to the Estate executor1, Administrator2 or appointed solicitor, such as details of current holdings (assets) and historical transaction summaries, provided we receive the following documentation:

Please send your request to commsecestatesmanagement@cba.com.au with the relevant account name and number (if known), your contact details and information about your relationship to the deceased.

We’re here to help

If you have any questions, please contact us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time). Alternatively, you can email commsecestatesmanagement@cba.com.au

Important information

  1. An Estate executor is the person/s named in a will to take charge of the deceased’s assets and property.
  2. An administrator in this context is the person/s appointed by the court in the event of no will being present.
  3. A certified document must include the statement “I certify that this is a true copy of the original document” and include the full name, signature, date or certification and qualification/occupation of the certifier.
  4. A Death certificate is an official document issued by the Registry of Births, Deaths and Marriages containing the information registered when someone passes away, including the date, place and cause of death.
  5. The Last will and testament (will) is a legal document in which a person specifies how they wish their estate to be distributed after their passing.

These accounts are treated differently. In the event that a director of a company with a CommSec account in its name passes, you will firstly need to contact ASIC to update their company information. Please then let us know, via email or by phoning us using the contact details below. We will request a certified copy1 of the Death certificate2.

To add a director, please complete an Additional authority form and send this to us with a certified copy1 of the new director’s identification (passport or driver’s license).

Please email the documentation to commsecestatesmanagement@cba.com.au or post to CommSec Estates Management, Locked bag 22, Australia Square, NSW 1215.

We’re here to help

If you have any questions, please contact us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time). Alternatively, you can email commsecestatesmanagement@cba.com.au

Important information

  1. A certified document must include the statement “I certify that this is a true copy of the original document” and include the full name, signature, date or certification and qualification/occupation of the certifier.
  2. A Death certificate is an official document issued by the Registry of Births, Deaths and Marriages containing the information registered when someone passes away, including the date, place and cause of death.

In this case, all loan obligations become the responsibility of the Estate executor1. A margin loan is a facility whereby money has been borrowed to invest, using shares or managed funds as security. A margin loan charges interest, until the balance is repaid.

If you require information on a specific CommSec Margin Loan, please provide us with:

Please send these details to commsecestatesmanagement@cba.com.au with the relevant account name and number (if known), your contact details and information about your relationship to the deceased. Because margin loans can be complex, the next steps can differ depending on factors like the assets held and borrower type. Once notified, we will advise you of next steps.

We’re here to help

If you have any questions, please contact us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time). Alternatively, you can email commsecestatesmanagement@cba.com.au

Important information

  1. An Estate executor is the person/s named in a will to take charge of the deceased’s assets and property.
  2. A certified document must include the statement “I certify that this is a true copy of the original document” and include the full name, signature, date or certification and qualification/occupation of the certifier.
  3. A Death certificate is an official document issued by the Registry of Births, Deaths and Marriages containing the information registered when someone passes away, including the date, place and cause of death.
  4. The Last will and testament (will) is a legal document in which a person specifies how they wish their estate to be distributed after their passing.

Firstly, please notify us of the customer’s passing by phoning us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time). This will mean that for CommSec options or CFD accounts, we will be able to reduce the potential for market risk by closing any open positions as quickly as possible.

We will then require certain formal documentation, but which will depend on multiple factors. We will advise on which formal documentation we require when we receive your notification.

We’re here to help

If you have any questions, please contact us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time). Alternatively, you can email commsecestatesmanagement@cba.com.au

In this event, the documentation we require depends on the amount of ‘holdings’ (assets) in their account.

For holdings of less than $50,000, we require notification of the customer’s passing from an Administrator1 or the Next of kin2. We will review the account and let you know what you need to do next.

Where the deceased has over $50,000 in holdings, we require a Letter of administration3 in place of a will4.

Please send these details to commsecestatesmanagement@cba.com.au with the relevant account name and number (if known), your contact details and information about your relationship to the deceased.

We’re here to help

If you have any questions, please contact us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time). Alternatively, you can email commsecestatesmanagement@cba.com.au

Important information

  1. An administrator is the person/s appointed by the court in the event of no will. A will is a legal document in which a person specifies how they wish their estate to be distributed after their passing.
  2. Next of kin is the deceased person's closest living relative or relatives.
  3. A Letter of administration is a document granted by the Supreme Court, giving authority to an administrator to collect and distribute the assets of the estate in the absence of a valid will.
  4. The Last will and testament (will) is a legal document in which a person specifies how they wish their estate to be distributed after their passing.

Upon notification of a joint account holder passing away, we will lock the account to ensure it is protected1, until all relevant documentation has been provided. This will mean that unfortunately, any proceeds from the account, such as dividends or accrued interest, cannot be accessed through CommSec.

It is still possible to access these funds, but it will need to be requested by the Estate executor2 through the relevant share registry. You may need to provide the share registry with new details, such as an updated tax file number, dividend plan and banking instructions. Please contact the relevant share registry to confirm.

We’re here to help

If you have any questions, please contact us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time). Alternatively, you can email commsecestatesmanagement@cba.com.au

Important information

  1. Under ASX business rules, all CHESS holdings on individual and single trust accounts must be ‘locked’ on initial notification of a deceased estate. This means shares cannot be transferred or sold until all requirements have been satisfied.
  2. An Estate executor is the person/s named in the Last will and testament to take charge of the deceased’s assets and property. The Last will and testament (will) is a legal document in which a person specifies how they wish their estate to be distributed after their passing.

A testamentary trust is a trust established under a will1, providing control over how assets are distributed to Beneficiaries2 when the trust owner passes away. CommSec recognises two types of testamentary trusts’:

  1. An estate trust of the testator (the person who has passed away), managed by the Estate executors3.
  2. A trust formed within the will1 and managed by the Trustees4 specified within the will1, or appointed by deed (a legal document setting out rules for establishing and operating the trust).

It is possible to set up a CommSec Trading Account in the name of a trust, but to do this, please send us the following documents to confirm the trust has been established:

  • a certified copy5 of the will1, and
  • a certified copy5 of the Death certificate6, or
  • a certified copy5 of the Probate7/Letter of administration8 in relation to the estate trust.

Please email the documentation to commsecestatesmanagement@cba.com.au or post to CommSec Estates Management, Locked bag 22, Australia Square, NSW 1215.

Please also set up a CommSec Trading Account to reflect the new trust structure.

We’re here to help

If you have any questions, please contact us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time). Alternatively, you can email commsecestatesmanagement@cba.com.au

Important information

  1. The Last will and testament (will) is a legal document in which a person specifies how they wish for their estate to be distributed after their passing.
  2. A Beneficiary is someone who receives or shares in the proceeds from a deceased person’s estate.
  3. An Estate executor is the person/s named in a will to take charge of the deceased’s assets and property.
  4. A Trustee is an individual person or member of a board given control or powers of administration of property in trust with a legal obligation to administer it solely for the purposes specified.
  5. A certified document must include the statement “I certify that this is a true copy of the original document” and include the full name, signature, date or certification and qualification/occupation of the certifier.
  6. A Death certificate is an official document issued by the Registry of Births, Deaths and Marriages containing the information registered when someone passes away, including the date, place and cause of death.
  7. A Probate is a document issued by the Supreme Court that confirms the validity of a will, and authorises the executor/s to act. Please note that if the Probate was issued in South Australia we will also require the Registrar certificates. If this was issued as an electronic grant after 26/11/2018, a non-certified copy is acceptable.
  8. A Letter of administration is a document granted by the Supreme Court, giving authority to an administrator to collect and distribute the assets of the estate in the absence of a valid will.

We are very sorry for your loss. Please visit your nearest CommBank branch, where you will be asked to complete a Deceased customer notification form.

For more information on estate management with Commonwealth Bank, please click here.

We are very sorry for your loss. Please click here for a list of all Commonwealth Bank teams, and their contact details. You will also need to notify the relevant teams – please do so when you can.

If a member of a trust or ‘trustee’ has passed away, you may wish to close down any trusts that they were a part of (e.g. self-managed super fund, retirement fund or family trust). To close down a CommSec account owned by a trust, please send us instruction with a certified1 copy of the Death certificate2 along with a certified copy1 of the most recent trust deed (a legal document setting out rules for establishing and operating the fund).

Please email the documentation to commsecestatesmanagement@cba.com.au or post to CommSec Estates Management, Locked bag 22, Australia Square, NSW 1215.

We’re here to help

If you have any questions, please contact us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time). Alternatively, you can email commsecestatesmanagement@cba.com.au

Important information

  1. A certified document must include the statement “I certify that this is a true copy of the original document” and include the full name, signature, date or certification and qualification/occupation of the certifier.
  2. A Death certificate is an official document issued by the Registry of Births, Deaths and Marriages containing the information registered when someone passes away, including the date, place and cause of death.
  • Administrator - the person/s appointed by the court in the event of no will.
  • Beneficiary - someone who receives or shares in the proceeds from a deceased person’s estate.
  • Death certificate - an official document issued by the Registry of Births, Deaths and Marriages containing the information registered when someone passes away, including the date, place and cause of death.
  • Deceased estate - the property and assets of someone who has passed away.
  • Executor - the person/s named in a will to take charge of the deceased’s assets and property.
  • Last will and testament (will) - a legal document in which a person specifies how they wish their estate to be distributed after their passing.
  • Letter of administration - a document granted by the Supreme Court, giving authority to an administrator to collect and distribute the assets of the estate, in the absence of a valid will.
  • Next of kin - a person's closest living relative or relatives.
  • Probate - a document issued by the Supreme Court that confirms the validity of a will, and authorises the executor/s to act. 

Important information

1. Under ASX business rules, all CHESS holdings on individual and single trust accounts must be ‘locked’ on initial notification of a deceased estate. This means shares cannot be transferred or sold until all requirements have been satisfied.

2. An Estate executor is the person/s named in the Last will and testament (will) to take charge of the deceased’s assets and property. The will is a legal document in which a person specifies how they wish their estate to be distributed after their passing.

3. An administrator in this context is the person/s appointed by the court in the event of no will being present.

 

Disclaimer

This site is directed and available to and for the benefit of Australian residents only. © Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 ("CommSec") is a wholly owned, but non guaranteed, subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 and both entities are incorporated in Australia with limited liability.

By clicking on the "Download the CommSec App" buttons above, you will be directed to itunes.apple.com or play.google.com. These sites are not affiliated with CommSec and may offer a different Privacy Policy and level of security.

Top