If you have recently lost someone close to you, we understand this may be a very difficult time.
Below is information that will help guide you through this process, from how to notify us through to what documents you will need to provide. The below relates to all products offered through us however there are some specific requirements depending on the products held, where noted below.
What you need to do
Step 1: Let us know
To ensure the account of your recently deceased client, family member or friend is protected, please notify us of their passing as soon as possible. Please provide us with the deceased’s:
- Full name
- Account number/s (if known)
- Date of birth and
- Date of passing
Once these details have been verified, we will take the following actions to protect the account(s):
- Remove access to the account (including additional authorities on the account)
- Switch off any recurring fees
- Refund any fees charged after the date of their death (if applicable)
Important Information: Under ASX Business Rules, all CHESS Settlement Facility holdings must be ‘locked’ on initial notification of a deceased estate. This means that the shares cannot be transferred or sold until all requirements have been satisfied.
Step 2: Complete the Notification form
Download and complete the Estate Management Notification form
The Deceased Estate Notification form is used to notify us of the executors/administrators and solicitors (where applicable) representing an estate and lists the supporting documentation requirements based on the different account types and estate value.
Once we have received and verified this information:
- We are only able to execute instructions received from the Estate executor, administrator, solicitor or appointed adviser
- We will provide you with the portfolio statement and historical transaction summary. This information will assist you in determining how to disburse the shares of the estate
Step 3: Complete the Disbursement form
Download and complete the Estate Management Disbursement form
At this point, you are ready to disburse the shares. The Estate Management Disbursement form is used to instruct us to transfer and/or sell the shares of the estate. The information and documentation requirements will depend on the account types held by the deceased.
Once we have received and executed your disbursement instructions, we will automatically close the accounts and send a notification to you.
Important information: All shares must be sold or transferred from the deceased trading account within 3 months of being unlocked, unless signed approval is received from all executors requesting an extension. Please note the maximum extension that can be granted is up to 12 months from the initial unlock date. In the event this does not occur, the holdings may be sold at our discretion to repay any outstanding balance (where applicable), and release the remaining shares to issuer sponsored holdings. The executor will need to liaise directly with the Share Registry to finalise the shareholdings.
We’re here to help
For more information on managing the account/s of a deceased estate, please view the Estate management frequently asked questions. Alternatively, please contact us.