A testamentary trust is a trust established under a will¹, providing control over how assets are distributed to Beneficiaries² when the trust owner passes away. CommSec recognises two types of testamentary trusts’:

1. An estate trust of the testator (the person who has passed away), managed by the Estate executors³.
2. A trust formed within the will¹ and managed by the Trustees⁴ specified within the will¹, or appointed by deed (a legal document setting out rules for establishing and operating the trust).

It is possible to set up a CommSec trading account in the name of a trust, but to do this, please send us the following documents to confirm the trust has been established:

• a certified copy⁵ of the will¹, and
• a certified copy⁵ of the Death certificate⁶, or
• a certified copy⁵ of the Probate⁷/Letter of administration⁸ in relation to the estate trust.

Please email the documentation to commsecestatesmanagement@cba.com.au or post to CommSec estates management, Locked bag 22, Australia Square, NSW 1215.

Please also set up a CommSec trading account to reflect the new trust structure.

We’re here to help

If you have any questions, please contact us on 13 15 19 or +61 2 9115 1417 if calling from outside Australia, 8am to 7pm (Sydney time). Alternatively, you can email commsecestatesmanagement@cba.com.au

For more information on CommSec estate management, please click here.

Important information

1. The Last will and testament (will) is a legal document in which a person specifies how they wish for their estate to be distributed after their passing.
2. A Beneficiary is someone who receives or shares in the proceeds from a deceased person’s estate.
3. An Estate executor is the person/s named in a will to take charge of the deceased’s assets and property.
4. A Trustee is an individual person or member of a board given control or powers of administration of property in trust with a legal obligation to administer it solely for the purposes specified.
5. A certified document must include the statement “I certify that this is a true copy of the original document” and include the full name, signature, date or certification and qualification/occupation of the certifier.
6. A Death certificate is an official document issued by the Registry of Births, Deaths and Marriages containing the information registered when someone passes away, including the date, place and cause of death.
7. A Probate is a document issued by the Supreme Court that confirms the validity of a will, and authorises the executor/s to act. Please note that if the Probate was issued in South Australia we will also require the Registrar certificates. If this was issued as an electronic grant after 26/11/2018, a non-certified copy is acceptable.
8. A Letter of administration is a document granted by the Supreme Court, giving authority to an administrator to collect and distribute the assets of the estate in the absence of a valid will.