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 $100,000, we require notification of the customer’s passing from an administrator or the next of kin. Once we receive notification of the customer's passing, we will review the account and let you know what you need to do next.
Where the deceased has over $100,000 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.
