Deceased estates

Please provide the following

• a certified copy of death certificate
• a certified copy of will or Letters of Administration (Please note if the total investments held with Macquarie for individual accounts exceeds $100,000 we’ll require a certified copy of Grant of Probate in order to finalise the estate. There also may be other circumstances in which we may still ask you to obtain Probate)
• a certified copy of identification for each executor or next of kin who will be acting on behalf of the estate
• a completed Individual identification form for each executor or next of kin.

Please provide the following

• a certified copy of death certificate
• a certified copy of will or Letters of Administration (Please note if the total investments held with Macquarie for individual accounts exceeds $100,000 we’ll require a certified copy of Grant of Probate in order to finalise the estate. There also may be other circumstances in which we may still ask you to obtain Probate)
• a certified copy of identification for each executor AND
• a completed Individual identification form for each executor OR
• or a FSC Individual form completed for each executor.

Please provide the following

• a letter of authority/administration stating you act on behalf of the estate and,
• a certified copy of death certificate.

To make payment for a funeral:

• tax invoice on the funeral home’s letterhead.

To be reimbursed for funds for funeral expenses already paid:

• tax receipt on the funeral home’s letterhead, and
• bank statement showing payment and where to reimburse the funds.

For all documentary requirements of the different account structures on CMA please refer to Deceased Estates checklist for Cash Management Accounts.

For all documentary requirements related to Wrap accounts (Investment, superannuation, and pension) please refer to Deceased estate checklist for Super and Investment accounts.

For superannuation and pension accounts, please notify the relevant insurance provider of the policy holder’s passing.

Reversionary pension nomination (pension only)

The person nominated as a reversionary beneficiary will receive the death benefit as a pension though can elect to receive the benefit as a lump sum after the pension has reverted to them.
 

Non-lapsing death benefit nomination held on the account

The person(s) nominated as beneficiary can elect to receive the benefit as a lump sum payment, by commencing a death benefit pension or a combination of both. We can only pay the death benefit as a pension if, at the time of death, the recipient is either:

• a dependant of the deceased (for example, their spouse, a financial dependant, or a person with whom they have an interdependency relationship) who is not a child, or
• a child of the deceased who is:
  • less than age 18, or
  • aged 18 to 24 inclusive and was financially dependent on the deceased, or
  • aged 18 or more and has a qualifying disability (broadly, this is a disability that is permanent or likely to be permanent and results in the need for ongoing support and a substantially reduced capacity for communication, learning or mobility).

A nominated child over the age of 18, that isn't financially dependent or has a qualifying disability, can only take their benefit as a lump sum.

For beneficiaries that were in an interdependency relationship with the deceased or financially dependent on the deceased, please complete the Information Request for Interdependency Relationships form and provide the additional supporting documentation to be reviewed by Trustee before the benefit payment can assessed.

To action the options for these accounts, we require the following documentation:
 

Benefits to be taken as death benefit income stream

• a certified copy of the client’s death certificate
• a certified copy of the beneficiary’s ID (if not provided as part of the application form)
• an original Tax File Number Declaration is required if the beneficiary is under the age of 60.

We’ll also need: 

• For a non-lapsing nomination: a new Pension application form completed in full by the beneficiary - To be submitted online by the adviser
• For a reversionary beneficiary: a completed Macquarie Wrap Reversionary pension application form.
   

Benefits to be taken as a lump sum

• a certified copy of the client’s death certificate
• a certified copy of the beneficiary’s ID
• a completed withdrawal form/letter signed by the beneficiary
• the beneficiary’s Tax File Number (if payment is being made to an adult child of the deceased).
   

No Nomination or Nomination to the estate

• a certified copy of the client’s death certificate
• a certified copy of grant of probate/letters of administration
• a certified copy of the executor/s or administrator/s ID
• an individual identity verification form for all executor/s or administrator/s
• a completed withdrawal form/letter signed by all the executor/s.

Place account under executor administration

To place the account under executor administration we’ll need each executor to complete the following, along with the minimum documentary requirements found in the section Who and what information is required to access the accounts?:

• For bank accounts: a completed Macquarie Transaction and Savings Account Executor
• For home loans: Grant of Probate and a completed Home Loan Third Party Authority

Close the account/s

To close an account(s) of someone who has passed away, please complete the following along with the minimum documentary requirements found in the section Who and what information is required to access the accounts?:

• For bank accounts: a completed Deceased Estate Withdrawal form signed (pen to paper) by all the executor/s.
• For home loans: Grant of Probate and a completed Discharge authority form signed (pen to paper) by all the executor/s. If you’d like for us to update the Certificate of Title prior to discharge, please also send us a signed copy of the Transmission application form can be requested from the lands title office or solicitor. It must be signed by the executor/s or administrator/s.

A joint account holder can continue to use the account. Please know, statements will continue to be sent with all current account holders’ names. Alternatively, the names on the account can be updated, please send a certified copy of the death certificate and written request to update the names on the account. There are times where we may require further documentation, especially if a new account is required. If this is the case, we’ll contact you.

For home loans

To update the certificate of title*, depending on the names on the title, we may need one of the following documents, which can be provided by the solicitor assisting with the changes or the relevant state’s lands title office:

• a copy of the survivorship application OR
• a copy of the Transmission Application by the executor/s or administrator/s, AND
• a copy of the Transfer by executor/s or administrator/s transferring the interest to you as the beneficiary.

* A current fee of $395 is charged to update the certificate of title.

Please provide the following

• a certified copy of death certificate.
• a certified copy of the deed of variation showing change of trustee
• a Beneficial Owner Details form.

If appointing a replacement individual as trustee, we’ll also need:

• a completed Third Party Authority signed by all trustees
• a certified copy of identification for each newly appointed trustee/s AND
• a completed Individual identification form for each trustee/s OR
• a FSC Individual form completed for each trustee/s.

If a new corporate trustee is being appointed, we’ll also need:

• an ASIC company extract showing appointed director/s
• a completed FSC Australian Companies form.

When a company director has passed away, and a company account needs updating, please email the below documents:

• a certified copy of the death certificate (not required if the ASIC extract has been updated to show the deceased as removed and no newly appointed director/s)
• an updated ASIC Company extract showing update to office holder/s
• a completed Beneficial Owner Details details form.

If a new office holder is to be appointed, we’ll also need:

• a completed Third Party Authority signed by all directors
• a certified copy of identification for the new director AND
• a completed Individual identification form for each new director OR
• a FSC Individual form completed for each director.