How do I manage the margin loan held by a deceased CommSec customer?
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 are the estate executor or beneficiary of a deceased estate where the deceased held an active CommSec Margin Loan, all loan obligations will become your responsibility.
If you require information on a specific CommSec Margin Loan, please provide us with:
- An Estate Management Notification Form* per executor, and
- A certified copy of the Death Certificate, and
- A certified copy of the 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. Once notified, we will advise you of next steps.
Margin loans can be complex, so the next steps for each customer can differ depending on factors like the assets held and borrower type.
*Important Information
Need more information? Follow this link to complete an Estate Management Notification Form.
Need help understanding some of the key words we used in this article?
Familiarise yourself with these words below:
| Technical term | Definition |
|---|---|
|
Executor |
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. |
|
Certified copy of a document |
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. |
|
Death Certificate |
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. |
|
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.
