Documents we need
Gathering paperwork may be the last thing you feel like doing. But for us to help you, we need to see several documents - depending on the value of the Estate and whether there’s a Will or not.
You don’t need to provide original documents, we also accept certified copies. You can certify copies of original documents at any CommBank Branch (so long as you also show us the original document).
To prevent any unauthorised access to account(s), all debit cards linked to your loved one’s account(s) will be stopped. This means that existing cards will no longer be able to be used, and some regular recurring payments may also be stopped1. Once the Estate is finalised the account(s) will be closed. Direct credits continue to be accepted by the account up until it's closed, however you will not be able to transfer money between accounts. If you’d like to deposit a cheque, you’ll need to visit your local branch.
Joint accounts continue to operate as normal. No change is required unless you’d prefer the account be amended so it’s only in the surviving account holder’s name (bear in mind you’ll continue to get documents addressed to your loved one if you choose not to amend it).
Any credit card in the name of the primary cardholder will be cancelled. This means that all existing cards will no longer be able to be used. Some transactions e.g. regular payments, may still occur in certain circumstances, so you should regularly check the monthly statements. If any regular payments continue after the account is cancelled, you’ll need to contact the service provider directly to cancel the service.
If you’re an additional cardholder this card will also be cancelled and you’ll need to apply for a credit card in your own name. We can help you with this, either in branch or over the phone. If this causes financial strain, contact our Financial Assist team who may be able to help.
All access and activity related to the account will be stopped. Interest continues while the Estate is settled. We recommend you seek legal guidance before you consider making any voluntary repayments throughout this period.
Unless you’re planning to sell or pay off the loan using super or insurance, we may be able to transfer the loan solely into the surviving joint account holder’s name, provided they meet the refinancing requirements (but they may need to apply for a new home loan).
We can help you with this. Our Financial Assist Deceased Estates team will proactively contact you. You can call them on 1300 720 814 if you’d prefer. This team can also help you if, as a joint account holder, you’re finding it difficult to keep up with the home loan repayments.
If you’re the joint account holder, you’ll need to continue to make payments on this account. Unless you’d prefer the loan to be changed so it’s only in your name, there’s nothing more you need to do (bear in mind you’ll continue to get documents addressed to your loved one as a result).
For Term Deposits held only in your loved one’s name, we can release money before the Term Deposit maturity date. All fees and charges for early withdrawal will be waived, and interest accrued up until account closure will be paid.
If your loved one has home, contents or car insurance, cover will remain in place and premiums will need to be paid. If you’d like to cancel any insurances or change the policy owner details, give us a call on 132 423 between 8am – 8pm Monday to Friday and 8am – 5pm Saturday (Sydney/ Melbourne time)
We’ll stop all life insurance premiums once you tell us your loved one has passed away. Any repayments or premiums paid after their date of death will be refunded once the claims assessment is completed.
If your loved one or business partner has any business accounts (solely or jointly), loans or facilities e.g. merchant terminals, you can contact their (or your) Relationship Manager to discuss how the accounts will now be managed.
If you’re having difficulty keeping up with the repayments on any business loans call us on 13 26 07 and we’ll work with you to develop a solution to meet your needs.
We can also organise an ‘Estate of the Late’ account at your nearest branch. It works as a transaction account and allows the executor to access funds more easily and provides an account to deposit cheques made out to ‘Estate of the Late’. If you do wish to open one, the executor will require a Grant of Probate or letters of administration prior to opening the account.
In an emergency please call 000 or contact Lifeline on 13 11 14.
Australian Centre for Grief and Bereavement
A not for profit organisation established to provide a range of education, counselling, research and clinical services for those working in and affected by experiences of grief and bereavement.
Australian Taxation Office (ATO)
The ATO outlines the tax responsibilities associated with deceased estates. If you’re the executor of a deceased estate, you may need to lodge a final tax return on behalf of the deceased person.
Birth, deaths and marriages registry
It’s the responsibility of the state and territory governments in Australia to provide Death Certificates.
Centrelink is an organisation provided by the Federal Government and can provide insight into areas such as where to obtain a Death Certificate and organising a funeral.
1 Some transactions may still occur in certain circumstances so you should regularly check your monthly statements. If any regular payments continue to be processed on your account after it has been cancelled, you will need to contact the service provider directly to cancel the service.