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When someone passes away there are countless things that need to be done to finalise their estate, which can feel overwhelming and confusing. To finalise your loved one's membership with People First Bank, there are some steps you can take. The steps below are also covered in our Deceased Estates guide.
Step 1: Notify us
Contact us as soon as you are able using any of the channels below:
- Call our Customer Hub team, available 24/7, on 13 11 82 or +61 8 7078 4200 if you're calling from oversea.
- Visit us in person at your nearest People First Bank branch.
- Email us and our team will assist you with next steps.
Visit the Government’s Australian Death Notification Service to notify us along with other participating organisations at the same time.
Step 2: Provide the information and documents we need to begin assisting you
When someone passes away, documents are required before we can release account and membership information. We can only share information about the deceased’s account(s) and membership with specific people, so we will need to check the documents you provide to us to determine who we can provide information to and what further steps need to be taken.
If the deceased left a valid Will, we need the original or certified copies of the following documents:
- Death certificate
- The will
The executor(s) named in the Will are required to provide their People First Bank member number or, if they're not a customer with us, we require their contact details and proof of identity e.g. driver’s licence.
If the deceased did not leave a valid Will, then a family member will need to satisfy us that they have the authority to act as administrator of the estate.
In some circumstances, the administrator will need to be appointed by the Supreme Court in the state or territory where the estate is held, under ‘Letters of Administration’.
In other circumstances, you may be able to act as an administrator without Letters of Administration for the purposes of closing the deceased’s accounts with People First Bank.
The administrator for an estate without a Will must provide us with original or certified copies of the following documents:
- Death certificate
- A signed and witnessed Statutory Declaration made by the administrator stating:
- Their relationship to our deceased member
- That to the best of their knowledge the deceased did not have a valid Will
- That they are administering the deceased member’s estate.
- The administrator will also need to provide their People First Bank member number or, if they're not a customer with us, we require their contact details and proof of identity e.g. driver’s licence.
Step 3: Final steps to close the accounts
Once we have received the initial documents, our Bereavement Care team will write to the executor or administrator to advise of the ‘closure requirements’ to finalise the deceased’s membership.
Step 4: When you're ready, return the documents we requested
Complete and return to us all documentation we requested as outlined in the ‘closure requirements’ letter to the executor/administrator.
If you have questions about the process or require additional information about the requirements, our Bereavement Care team are here to help you.
If a solicitor or accountant is assisting you, you can also seek their guidance.
Step 5: All accounts and facilities are finalised
Once we've received all the required documents about the deceased and a particular person’s authority to deal with the estate, we will close the accounts and membership.
The remaining funds will be released as per the instructions provided by the authorised executor/administrator.
Other important information
It is important to find out if the deceased had any insurance policies (for example, home and contents insurance, health insurance, car insurance, life insurance). Insurance providers must be notified so any plans can be transferred or cancelled as needed and new arrangements for premium payments can be made if required.
Important note: If the deceased held insurance policies with our CGU insurance partner, CGU requires that documentation is provided to them to verify that the executor/administrator has the authority to act in order to be able to amend or cancel the policy.
• Transfers to any People First Bank credit card/overdraft or loan in the deceased's sole name
• Existing transfers to bonus interest savings accounts in the deceased’s sole name
Additional support
Seeking the advice of a solicitor
We recommend you seek the advice of a Solicitor if you need more information about your responsibilities as an executor or administrator of the estate such as:
- applying for Probate or Letters of Administration
- dealing with real estate
- finalising tax matters.
If the estate is in financial difficulty
If the estate is in financial difficulty and you need assistance with the estate, we recommend that you seek legal assistance, which can be obtained from one of the free legal services or helplines available in all Australian States and Territories.
You may be able to find contact details for these services by speaking to your funeral director or contacting organisations such as Anglicare or your local council.
Looking after yourself
This is a difficult time, so it is important to take care of yourself and look after your mental and physical health.
To access confidential counselling services, you can contact Lifeline Australia, Beyond Blue, Mensline Australia or Griefline.
- Call Lifeline Australia on 131 114
- Call Beyond Blue on 1300 22 4636
- MensLine Australia on 1300 789 978
- Call Griefline on 1300 845 745
Notify other people and organisations
There may be other people and organisations you need to notify.
To help you identify who you may need to contact, download the form at the Services Australia link below.
FAQs
We can usually release available funds from the deceased's account to contribute to funeral expenses when a request is received from:
- The executor or administrator acting for the estate; or
- The person who paid the funeral invoice
If the funeral hasn't been paid:
The executor or administrator will need to provide us with the tax invoice from the funeral provider and their People First Bank member number; if they aren’t a customer of People First Bank, we require photo identification, e.g. driver’s licence, to arrange for the account to be paid.
If the funeral has been paid:
We will reimburse the person who paid for the funeral if they present the funeral invoice plus receipt in their name and we are satisfied that the payment has been made. The person will also need to provide their People First Bank member number. If they aren’t a customer of People First Bank, we require photo identification, e.g. driver’s licence and their contact details, to enable us to make the payment.
If there are insufficient funds available to cover the whole amount, we may close the account profile and pay the balance of the account as a partial reimbursement of the funeral expense that has been paid.
An estate trust account is an account opened to manage the financial affairs of a deceased estate after the date of death. The account works like a normal transaction account. It allows the executor (or administrator named in Letters of Administration) to deposit cheques and receive credits payable to the estate and to transact on the account in order to pay estate expenses and distribute remaining monies to beneficiaries.
If you wish to open an estate trust account, please speak with one of our team at your nearest People First Bank branch.
A grant of Probate is certification of the Will by the Supreme Court in the state or territory where the estate is held.
The grant is a legal document which confirms that the executor has the authority to deal with the deceased person’s assets (property, money and belongings). This is called ‘administering the estate’.
If there is no Will, the court may issue ‘Letters of Administration’ to appoint an administrator of the estate.
As a general guide, People First Bank requires a grant of Probate or Letters of Administration to be produced if any of the following apply:
- Total aggregate credit funds held by People First Bank in the deceased member's sole name exceed twenty thousand dollars ($20,000);
- The deceased member held real estate in their sole name or as tenants-in-common with another party; or
- The estate is in dispute.
Additional information about Grant of Probate or Letters of Administration can be obtained from the Supreme Court Probate Office, or by contacting a solicitor.
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