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Deceased Estate

Dealing with the death of someone you know is far from easy. We understand you have a lot to focus on at this time, so we’ll try to make the UBank side of things as easy as possible.

Step 1 – Notify us. Call us as soon as you can on 13 30 80. Accounts belonging solely to the deceased will be stopped to prevent further transactions, such as recurring payments and direct debits.
 

Step 2 – Email us a certified copy of the Death Certificate to Customer_Resolutions@UBank.com.au

Step 3 – We’ll be in touch to explain what happens next. A Deceased Estate form will need to be provided unless you’re a joint account holder, along with supporting documents. As each Estate is different, the type of documents we’ll need may vary, which are outlined on the form. We will also confirm your identity at this point.
 

Step 4 – We finalise the Estate. Once we receive all the required documents, we’ll close the relevant deposit account(s) and transfer any funds as per your instructions. With home loans, if you’re planning on refinancing the loan to add or remove a borrower, let us know and we’ll help with the changes.


Keep in mind, with joint home loans, you’ll continue to receive statements and any correspondence addressed to yourself and the deceased customer’s Estate, unless you refinance to a single borrower loan.

Forms

To finalise the Estate, we will ask for the Deceased Estate form to be completed by the Authorised Representative (e.g. an Executor, Next of Kin or Solicitor) and sent to us along with certified copies of certain documents, which are outlined in the form.

In instances where no Will exists, let us know by emailing Customer_Resolutions@UBank.com.au and we’ll explain next steps.

Certifying copies of original documents

When we request copies of documents, such as a Will, we need them to be certified. For information on how to certify documents correctly, please check out the links below.

  

Funeral expenses

If there are sufficient funds available in a personal deposit account, you can ask us to pay up to $15,000 directly to the funeral service to help cover funeral expenses. If you’ve already paid the funeral expenses, you can ask us for a reimbursement. If there aren’t enough funds in the account, we can still make a part payment with the money available.

To do this, we’ll need to receive an email from either: 

  • The Executor, or Administrator acting for the Estate; OR
  • The person who organised or paid for the funeral themselves.

The email will need to include the tax invoice (if you haven’t paid for the funeral) or a tax receipt (if you have already paid). You’ll also need to include a certified copy of the Death Certificate.

If there are surplus funds left in the account after funeral expenses have been paid, you’ll need to provide a completed Deceased Estate form along with the required supporting documents to retrieve those funds.

Have an account with National Australia Bank (NAB)?

Please note, if the Estate has an account(s) with NAB, you will need to contact the NAB Bereavement Support team.

Glossary of common terms

Administrator

Person(s) appointed by the Supreme Court to manage a deceased person’s Estate where there is no Will. They’re responsible for administering the deceased person’s estate.

Authorised Representative

An Authorised Representative is legally authorised to act on behalf of the Estate such as an Executor, an appointed Administrator, Next of Kin or Solicitor.

Death Certificate

Official document provided by the Registry of Births, Deaths & Marriages containing the information registered when someone passes away, including the date, place and cause of death.

Executor

An Executor of an Estate is the person(s) named in a Will, responsible for administering the deceased person’s assets and property as instructed. They make sure all expenses (e.g. funeral costs, debts or any outstanding invoices) are paid and any remaining assets are distributed to the beneficiaries stated in the Will.

Grant of Probate

All Estates worth more than $50,000 require a Grant of Probate.

Probate is the process of proving and registering in the Supreme Court, the last Will of a deceased person. Grant of Probate is the document issued by the Supreme Court confirming that the Will is valid, and gives the executors the authority to act.

Please refer to the following websites for Probate information for your State or Territory:

VIC: https://www.statetrustees.com.au/
WA: https://www.publictrustee.wa.gov.au
NSW: https://www.tag.nsw.gov.au
QLD: https://www.pt.qld.gov.au
ACT: https://www.publictrustee.act.gov.au
NT: https://www.nt.gov.au
SA: https://www.publictrustee.sa.gov.au

Letter of Administration (LOA)

A Letter of Administration (LOA) is required when the deceased has not left a Will and the estate is valued at over $50,000. It’s a document granted by the Supreme Court, giving authority to an administrator (usually the Next of Kin) to act on the behalf of the Estate. 

Reseal of Probate

Enables the Probate granted in one State or Territory to be effective in another.

Will

A Will is a legal document that clearly sets out a person’s wishes for the distribution of their assets after they pass away.

If there is no Will, the Next of Kin will need to act on behalf of the Estate or an Administrator will need to be appointed by the Supreme Court in the State or Territory where the assets are held.