What should I do if I know a CommSec customer who has passed away without leaving a will?

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

In the event that a CommSec customer passes away without leaving a Last Will and Testament (will), we will require certain documentation to manage this account. This will depend 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 administrator or the next of kin. Once we receive notification of the customers' passing, 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 Administration in place of a Last Will and Testament (will). 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.


Need help understanding some of the key words we used in this article?
Familiarise yourself with these words below:

Technical term Definition

Administrator

An administrator is the person/s appointed by the court in the event of no will.

Next of kin

Next of kin is the deceased person's closest living relative/s.

Letter of Administration

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.

Last Will and Testament

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.

We're here to help

If you have any questions, please contact us on 13 15 19 or +61 2 8397 1206 if calling from outside Australia, 8am to 6pm (Sydney time). Alternatively, you can email commsecestatesmanagement@cba.com.au.

 

© 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. CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

The information on this page has been prepared without taking into account your objectives, financial situation or needs. For this reason, any individual should, before acting on this information, consider the appropriateness of the information, having regards to their objectives, financial situation or needs, and, if necessary, seek appropriate professional advice.

CommSec does not give any representation or warranty as to the accuracy, reliability or completeness of any content on this page, including any third party sourced data, nor does it accept liability for any errors or omissions.

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