What to do when a client passes away

When an account owner or trustee passes away, dealing with finances and estates can be daunting for the family and associates. To notify us of a client passing away, ask the executor/next of kin to notify us with the required documents as soon as possible.

Alternatively, if we receive this information from you as their registered adviser, we’ll update the account accordingly and get in touch to confirm any additional steps based on the account type. You can do this via email or you can create an Update a Deceased Estates request in Request Centre. Find out more about Adviser Request Centre.

Information can be shared with you (the adviser), executors, administrators, the solicitor or other representative acting on behalf of the estate once the required documents have been provided.

To close an account, we'll need a completed withdrawal form/letter signed by all the executor/s, in addition to the required documents.

Please note a request to waive probate is assessed on an individual basis, giving due attention to the particular circumstances and trust requirements. This doesn’t guarantee approval will be granted.

If your client held a super or pension account, the requirements to close an account will depend on the death benefit nomination held on the account. For more information, please refer to the super and pension requirements.

If your client shares an account with another account holder who has passed away, we can change the account name. In some cases, your client may need to open a new account. For example, with Wrap investment accounts, we may be required to open a new account for tax reporting purposes.

For a name change on the account, please send a certified copy of the other account holder’s death certificate. 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.

In the case of the death of a trustee, or director of a corporate trustee, to update the trust account or directors, we require the following documents:

• a certified copy of the client’s death certificate
• a certified copy of ID for all newly appointed 
• a completed individual identity verification form for all newly appointed 
• a completed Third Party Authority form signed by all newly appointed.

For changes to trustees, we’ll also need: 

• a certified copy of deed of variations showing newly appointed trustee/s
• a completed Beneficial Owner’s form

If the new trustee is a company, we'll also need:

• a completed Macquarie Australian Companies Identification form
• a copy of the ASIC Company Extract of bearers showing the appointed directors.

For new directors, we’ll also need:

• a copy of the ASIC certificate of bearers showing the appointed directors.

The requirements for super and pension accounts depend on the beneficiary arrangement:

• Reversionary pension nomination (pension only)
• Non-lapsing death benefit nomination.

The quickest way for you to provide these documents to us is to upload them in Request Centre. Alternatively, if the executor or the administrator is sending this to us, the quickest way for them to provide the requested certified documents is to email clientservicesupport@macquarie.com.

Alternatively, they can send them via post:

Deceased Estates 
GPO Box 2520 
Sydney, NSW, 2001 

Please review our guidelines on certification requirements.