Deceased Estates Guide

Step 2: Providing documents and information to CDF

CDF requires documentation to validate the authority of the authorised estate representative, in order to provide information and act on instruction.

To process this, CDF will require certified copies of the following documents:

These documents may not be available at the time you notify CDF, but will be required before accounts can be closed, and funds disbursed.

Please email certified copies of these documents to csg@melbcdf.org.au once received.

Certified documentation: A certified copy means a document that has been certified as a true copy of an original document by one of the following persons:

• A person who is enrolled on the roll of the Supreme Court of a State or Territory, or the High Court of Australia as a legal practitioner (however described)
• A Justice of the Peace
• A notary public (for the purposes of the Statutory Declaration Regulations 1993)
• A police officer
• An agent or permanent employee of the Australian Postal Corporation who oversees supplying postal services to the public
• An Australian consular officer or an Australian diplomatic officer (within the meaning of the Consular Fees Act 1955)
• An officer with, or authorised representative of, a holder of an Australian financial services licence, having 2 or more continuous years of service with one or more licensees
• A member of the Institute of Chartered Accountants in Australia, CPA Australia or the Institute of Public Accountants with 2 or more years of continuous membership.
• A foreign public notary whose appointment is lawful and their status as a notary public can be verified
  

Step 3: What happens to accounts and services after notification?

Once CDF has received the required documentation, our team will review the accounts and services held by the customer and action as follows:

For accounts owned solely by the deceased estate:

1. A freeze will be placed on all accounts, restricting the withdrawal and credit of all funds
2. Online access to all accounts and term investments will be removed
3. The accounts will be updated to reflect the 'Estate of the Late' deceased
4. The address for all correspondence related to the estate will be updated (if requested by the authorised representative)
5. CDF will continue to pay interest on funds held in interest bearing accounts or term investments at the current interest rates applicable to the type of account, or as agreed when the term investment was established or last reinvested
6. Term Investments – the authorised estate representative will need to provide written instructions for each term investment prior to maturity, otherwise the principal and interest will be reinvested for the same term at the published interest rate for that term on the maturity date
7. Term Investments – should the authorised representative request to redeem the investment after the investment has been automatically reinvested, 31-days written notice will be required - this does not apply to accounts held by Clergy or employees of Catholic Organisations. 
8. Term Investments – where the deceased has provided instructions to pay interest and/or principal at maturity to a non-CDF account, the investment will be amended, with interest/and or principal compounded at maturity

For accounts held in joint names:

Under the principle of survivorship, accounts and term investments held in joint names will not be stopped or frozen. If the surviving account holder notifies CDF of the death of the deceased, they may request jointly held accounts to be transferred into their sole ownership as part of the Death Notification form.

In the event that CDF has been notified of a deceased account held jointly but received no survivorship instruction, CDF will contact the surviving account holder and request further instruction.

Online account access of the deceased estate will be removed.

There is no change to online account access for the surviving account holder.

Step 4: Onboarding the authorised representatives

Who is an Authorised Representative?

An authorised representative may be:

• Next of Kin, such as:
• Spouse or lawful domestic partner
• A child over 18 years of age
• A parent
• A sibling over 18 years of age
• Executor (if the deceased left a will)
• Administrator (if the deceased did not leave a will)
• Public Trustee
• Solicitor or another legal representative

Identification of Authorised Representative(s)

All authorised representative(s) are subject to CDFs identification processes; our team will guide you through this process once we receive the completed Death Notification form and documentation.

CDF must be satisfied that authorised representatives are eligible to act on behalf of the estate and reserve the right to request additional information and/or documentation if required.

Electronic Verification of Identity - Authorised Representative(s)

CDF requires all individuals acting as authorised representatives to be identified before any account and service information can be divulged and any requests processed.

Each authorised representative will receive a secure link to complete an Electronic Verification of Identity online.

Solicitors

For solicitors acting on behalf of an executor or administrator, CDF requires a letter of representation signed by the executor(s) or administrator(s). 

Step 5: Request for information and providing instructions

Request for information

• All correspondence relating to a deceased estate is between CDF and the authorised representative(s), or in the case of joint accounts, the surviving account holder.
  
• As per the Privacy Policy, CDF is unable to divulge information to third parties who are not authorised to act on behalf of the estate
  
• Authorised representatives must submit all requests for information or instructions for amending or managing accounts and services in writing, either by email or post.

Statement of Balances and Interest

• Please advise our team if you require a statement of account and term investment balances, and/or interest paid in the most recent financial year.
• CDF is not required to report interest paid to the Australian Tax Office (ATO) and does not report this information. It is the responsibility of the account holder to report this information.

Providing instructions

Once grants of representation have been approved and granted, please provide a certified copy of these documents to CDF.

At this time, we are able to act on written instructions, such as:

• Closing accounts owned solely by the deceased
• Withdrawing funds from accounts owned solely by the deceased
• Receiving Term Investment maturity instructions

Additional documentation and information

CDF may require additional information and/or documentation related to the estate.

For example, when a Grant of Probate or Letters of Administration have been applied for, but not yet granted, CDF may request a copy of the Will or confirmation that the request has been lodged with the Supreme Court.

CDF may also request information related to the Beneficiaries of the Will, particularly when making payments on behalf of the estate to the beneficiaries.