Understanding Nominees

What Are Nominees?

A nominee is a person you designate directly with a financial institution (such as a bank, pension provider, or insurer) to receive a specific asset upon your death. Unlike will beneficiaries, nominee designations are registered with the institution and operate independently of any will.

How to Add Nominees on Expat183

You can add nominees to any eligible asset through the asset’s Account Ownership section, or use the Action Centre for bulk assignment.

1. Navigate to Asset Management and select an eligible asset
2. Open the Account Ownership section (business ownership stakes use a section called Nominees)
3. Under "Does this account have registered nominees or beneficiaries?", select "Yes"
4. Select a person from your relationships to add as a nominee
5. Set the percentage allocation (primary nominees must total 100%)
6. Choose the nominee type (primary or contingent)
7. Save the asset to record the nominee

Primary vs Contingent Nominees

Primary nominees are first in line to receive the asset. Contingent (backup) nominees only receive the asset if the primary nominee predeceases you or is otherwise unable to receive.

Example: You might designate your spouse as 100% primary nominee, with your two children as contingent nominees at 50% each. If your spouse is alive at the time of your death, they receive the full asset. If not, your children each receive half.

Most people designate their spouse or partner as primary nominee and their children as contingent nominees. You are not required to add contingent nominees. They are optional for all asset types.

Nominees vs Will Beneficiaries

Nominee: A person designated directly with a financial institution to receive a specific asset upon the holder’s death. The designation is registered with the institution and operates independently of any will.

Will Beneficiary: A person named in a will to receive assets or property. The will is administered through probate and covers assets not otherwise designated.

Filing Nominations with Your Institutions

Recording nominees on Expat183 helps you track your designations, but you must contact each institution directly to formally register them. Here’s how:

1. Gather your account details: account numbers, policy numbers, or plan identifiers for each asset.
2. Contact the institution: phone, email, or visit the institution’s website. Many banks and insurers offer online nomination portals.
3. Request the nomination form: ask for their nominee/beneficiary designation form. Some institutions provide these online.
4. Complete and submit the form: fill in your nominee’s full legal name, date of birth, relationship to you, and the percentage allocation. Submit as instructed (online, post, or in person).
5. Keep confirmation: retain any confirmation letter, email, or reference number as proof of filing.
6. Update this platform: once filed, return here and tick "Filed with institution" against the relevant nominee, entering the date you filed.

Using the Action Centre

The Action Centre’s Nominees tab provides a centralised view of all your nominee designations across every asset type. Features include:

Summary cards showing total eligible assets, nominees assigned, assets needing attention, and nominations filed with institutions.

Asset-by-asset table grouped by category, showing each asset’s nominees, their percentages and types, and filing status.

Bulk assignment to assign the same nominee to multiple assets at once. Select a person, choose the type and percentage, then tick the assets.

Filing status tracking to record when you have formally registered each nomination with the relevant institution, including the date filed.