We understand the weeks after you lose someone close to you can be challenging. Not only are you experiencing a range of emotions and grief, but when someone passes away, there are a number of necessary tasks that, if you haven’t completed before, can be confusing and overwhelming.
We’re here to help make sorting out the banking arrangements as stress-free as possible, from completing paperwork to organising the release of funds.
What should you do first?
Every situation is different, so we recommend giving us a call on 1300 138 831 or visiting your local branch. During this call, we can let you know what’s required and answer any of your questions. Our support is tailored to your situation.
While anyone can let us know one of our valued customers has passed away, we can only provide information about the estate to the authorised estate representative. We may need to obtain documentation from you to clarify who the representative is.
Alternatively, you can arrange for your solicitor to act on your behalf, to whom we can provide information once they have confirmed in writing that they are representing the estate.
Documents and forms we will need
We understand that obtaining documents at this time can be frustrating and time-consuming, but for us to be able to help, we do need access to certain documents. Once you've contacted us, we will be able to confirm the documents you'll need to provide, however, they are generally:
We may also require some additional documentation, depending on the matters of the estate, especially if the accounts with the Bank are $50,000 or more. These generally are:
Where do you send the documents?
You can forward documents by:
We rarely need original documents; however, they do need to be certified copies. Please check with us our requirements before sending any particular document.
What happens after you advise us of your loss?
Unless we are dealing with your solicitor, we will need to verify the representative’s identity. This is because we can only share account information with the estate executor, administrator, or next of kin if there is no executor or administrator.
Once confirmed, we will advise our requirements and next steps.
One of the first items to attend to is usually the payment of funeral expenses. We can help with this by releasing funds from the deceased person’s account.
To do this, we will generally need an invoice from the funeral directors, a certified copy of the will (if one exists) and a signed withdrawal form endorsed by the executor/s. If funeral expenses have already been paid, this money can be reimbursed.
One of our primary aims is to protect your loved one’s accounts, so generally speaking, we will stop the account to prevent unauthorised people from making any debits or transfers; however, some regular payments (like direct debits and recurring payments) might continue. You can, however, ask us to stop all payments if you prefer.
There’s usually no change to how joint saving and investment accounts operate. We may be able to change the name on the account depending on the nature and terms and conditions of it; we can discuss your preference as you require.
When there are loans with the Bank as part of the estate, depending on the type of loan and the security, the Bank may require these loans to be paid fully. We can discuss with you what options are available based on the specifics of the loan and its security (if applicable).
The grief of losing a loved one is more than enough to handle without having the added pressure of financial distress caused by the loss of income or access to savings, which you may be dependent on but now forms part of the estate.
There are things that can be done to help, so please call 1300 138 831 so we can run through what options may be available.
A grant of probate is a Supreme Court document that recognises a person’s authority to deal with the estate of a person who has passed away. You will need to provide a grant of probate when the balance of accounts with the Bank is $50,000 or more or potentially when the estate has several security properties (outside the family home) that are held with the Bank.
As we are a Queensland-based Bank, we require any Grant of Probate or Letters of Administration issued by another State to be “resealed” by the Queensland Supreme Court.
The resealing process is based on the British Probates Act 1898 and applies to grants issued in Australian states and territories, New Zealand, and the United Kingdom of Great Britain and Northern Ireland.
If you need more information, we recommend you seek legal advice.
Depending on the situation and the time to gather all the required documentation that we may need to finalise the estate, it may take anywhere from a couple of weeks to a few months to complete. We may also need information or instructions from multiple parties, which can lead to additional time. Regardless, the Bank will always try to finalise your instructions as soon as possible.
Administrator – a person appointed by the Supreme Court (of the applicable State) to administer a deceased estate when the deceased has not left a will, or if they have, for some reason, the nominated executor is unable to or does not wish to act.
Attest and attestation – to bear witness to the genuineness or authenticity of a document by signing as a witness, to authenticate a document.
Attesting witness – A person who sees the will-maker sign his or her will document, and then signs the same document themselves as proof that it was signed in their presence. Having done this, they can then declare or attest that they witnessed the will-maker sign their own will.
Attorney – is a person who has been appointed by someone else to make certain decisions in their place.
Beneficiary – a person who is to receive property left by a deceased person whether distributed according to the deceased's will or under the statutory rules on intestacy.
Co-executors – when more than one person has been appointed by a will-maker to administer their estate.
Deceased estate – all the property (both real estate and personal property) a person owns in their sole name when they die. The estate of a deceased person is what the deceased has left, whether by their will or under the statutory rules on intestacy.
Enduring power of attorney – a document in a form set down by law (see the Power of Attorney Act in each state and territory) which allows a person to name someone else to act on their behalf in regard to their finances and property, should they become incapacitated.
Estate – a person's property, including real estate and personal items, see Deceased estate.
Executor – a person appointed by will to manage, administer, distribute and finalise a deceased estate in accordance with the terms of the will. The executor is also responsible for making arrangements to dispose of the body. An executor maybe one or more individual persons, or a trustee corporation, or public trustee permitted to offer trustee services.
Grant of Probate – see Probate.
Intestate – when a person dies without having made a valid will according to law, or if they did, for some reason it may not be legally valid, either in whole or in part so it does not completely dispose of all of their property. They are said to have died intestate. An administrator is then appointed by the Supreme Court, Probate Registry or Division.
Minor – a person under 18 years old.
Next of kin – generally understood to be the person or persons closest to you, and whom you would want to be contacted in an emergency.
Personal representatives – of a deceased person are executors (if a will was left) or administrators on intestacy.
Probate – a process by which the will or a document alleged to be the will of a deceased person is proven to be valid according to law. A Grant of Probate is an official document certified and issued by the Supreme Court (of a State) as evidence that the Court has recognised and confirmed the authority of the person/s named as executor/s to go ahead and deal with the deceased estate according to the deceased's will, and distribute their assets and property, both real and personal. This must take place first before the executor can obtain title to the property forming the deceased estate, that is, before “calling in" the deceased's assets.
If there is no will, the deceased has died intestate, and in such circumstances, an administrator is appointed, and instead of a grant of probate, they are granted 'letters of administration', or simply administration.
Public Trustee – a statutory authority or government office. Established by an Act of Parliament, a Public Trustee exists to provide trustee services, will services, act as executor, as administrator for intestate estates, financial management services and powers of attorney, among others. Each state and territory have their own Public Trustee.
Realty – real estate
Representation – a term more commonly used to refer collectively to grants of probate or administration.
Right of survivorship – this is a legal right that attaches to the joint ownership of property, whether it is real property (land) or personal property. It is a feature of joint tenancy.
Survivorship – see right of survivorship
Tenancy in common or tenants in common – a type of property ownership where two or more people own a defined, undivided share (for example, one quarter, three quarters) in the same property.
Testament – Latin, meaning a will. It is the formal written document produced when a person records their intentions as to the disposal or transfer of their personal property for when they pass away. Its operation is triggered only in the event of death. In modern will writing, the phrase “Last will and testament" has been reduced to 'last will'.
Testator – a person who makes a will. Testator refers to a male person making a will and testatrix for a female. The term testator is now used to include references to both male and female.
Trustee – a person (or company) appointed to hold property on trust for others, the beneficiaries subject to the terms set out in a will, as a testamentary trust. Executors are often appointed to act as trustees where a trustee role is required following the administration of the estate.
Will – is the officially recognised legal record of a person's intentions as to what they want to have to happen to their property when they die. It is a document that seeks to dispose of the estate of a person on their death.
Will-maker – a person who makes a will.
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