For an individual Investment Funds account, we will pay the investment to the personal representative of the investor's estate once we have received the required legal documentation. If the investor left a valid Will, this will usually be the executor once probate has been granted.
If the investor did not leave a Will, an administrator will usually need to be appointed. Where the investment balance is more than $40,000, this generally requires Letters of Administration.
For estates with a balance of $40,000 or less, we may be able to release the funds without probate or Letters of Administration, subject to receiving the required documentation. Our Investor Services team can guide the deceased's family or representatives through the process.
If the Investment Funds account is held jointly, ownership of the investment passes automatically to the surviving account holder. We will usually require a certified copy of the deceased investor's death certificate before updating the account into the surviving investor's sole name. Once this has been completed, the surviving investor can continue to hold or withdraw their investment in the usual way.
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Can I have more than one Investment Funds account in my own name?
No. You can only have one Investment Funds account in your sole name, and each account can only hold one of each fund type. For example, if you already have a Growth Fund, you won't be able to invest in a second Growth Fund within the same account. ...
Can I open a Simplicity Investment Funds account for my grandchildren?
We do allow child investment accounts under our Investment Fund option. However, for investors under the age of 18, accounts can only be opened by a parent or legal guardian. If the parents of your grandchild wish to open an account for the child, ...
How do I sign my children up to Simplicity Investment Funds?
To create a Simplicity Investment Fund account for your child, please complete the application form here. You'll need your child's birth certificate, the parent/guardians ID, and all of your IRD numbers handy. You have the choice of adding one or two ...
What's the difference between Investment Funds and term deposits?
Our Investment Funds are different from term deposits where you invest a set amount for a specified time, and you’re guaranteed a certain rate of return on top of the original amount you invested. With a Simplicity Investment Fund, you’re investing ...
Are Simplicity Investment Funds ethical?
Our business is ultimately a social enterprise, so responsible investing is an important issue for us and our members. We specifically exclude investments in companies with significant involvement in activities such as fossil fuel extraction, weapons ...