Glossary

Administrator - A person or persons appointed by the court to administer a deceased person’s estate where there is no Will.

AML/CTF Act (Identification Requirements) This law requires Banks to identify people who they have financial dealings with.  It is called the Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) Act.

Beneficiary - A person who is left something in a Will.

Certified document - These are copies of documents which have been certified as "true copies of the originals" by a person authorised to do so.

Claimant - A person making a claim on an estate.

Date of death balances - Balance of assets and liabilities (debts) held by the deceased at the time of death.

Deceased Estate - The property belonging to a person who has passed away.

Evidence of Death - Documented proof that a person has passed away. The type of documents that we accept as proof of death include: Death Certificate, Medical Death Certificate, Funeral account / invoice.

Executor - An executor is a person (or sometimes more than one person) named in a Will to take charge of the deceased’s assets and property, see that the funeral and administration expenses (as well as debts and taxes) are paid, and finally to distribute the assets to the beneficiaries in accordance with the Will.

Full Death Certificate - An official document containing the information registered when someone passes away, including the date, place and cause of death.

Funeral Account - A detailed tax invoice/account relating to the expenses for funeral arrangements.

Intestate - When a person dies without making a Will, or the Will they have made is not valid, they are said to have died 'intestate'

Letters of Administration (LOA) - Letters of Administration (LOA) is a document issued by the court that authorises a person to act as an Administrator for a deceased person’s estate, and is generally obtained where there is no valid Will.

Medical Death Certificate - A certificate issued by a medical practitioner declaring someone as deceased.

Power of Attorney - A legal document by which a person appoints another person to act on their behalf in relation to their financial affairs.

Probate - Probate is a document issued by the court that confirms the Will, and authorises the Executor/s to act.

Reseal of Probate - 'Reseal of Probate' enables the Probate granted in one state or territory to be effective in another, for instance, if the deceased had assets located in another state or territory. Your legal representative can make arrangements, if Reseal of Probate is required.

Statutory Declaration - A statutory declaration is a legal, written statement that a person signs and declares to be true and correct before an authorised witness. By signing it, the person agrees that the information in it is true, and they can be charged and held liable if the information is false.

Trustee - Trustee is a legal term for a holder of property on behalf of a beneficiary (ie a person who manages property held in trust for the benefit of another person).

Will - A Will is a written document that sets out what you want to happen to your Estate after you die