Helping you with Deceased Estates
We understand this can be a stressful and difficult time for you.
The information below aims to make the process of dealing with this challenging time as simple as possible.
What do I need
The best place for you to start is to visit your local branch
The documents listed below will assist the branch to help settle the Estate.
Documents we require
- Death Certificate - original or certified copy1
- Will - original or certified copy1
- Estate Declaration form - if Probate is not being obtained
- Grant of Probate - may be required depending on the assets of the Estate. We'll let the Executor know if this is needed once the Estate has been reviewed
- Letters of Administration - may be require if there is no valid Will. We will let the Next of Kin know if this is needed once the Estate has been reviewed.
Information that may be helpful
- Bank account numbers of the deceased
- Contact details of the Executor/s acting on behalf of the Estate
- Address details of any property we may hold as security
It is important we ensure all persons administrating any Estate are correctly identified.
If you, or another Executor, are not a Bendigo Bank customer, we are legally required to correctly identify you.
Please provide one of the following2:
- Australian Driver's Licence - car or truck - current, renewed, interim, provisional, learners
- Current Australian or Foreign Passport - or expired Australian Passport within the preceding 2 years
Review of the Estate
Below are our steps in ensuring the Estate is dealt with correctly
Once we receive the originally certified copies of the Death Certificate and Will, our Deceased Estates team will do an inquiry regarding any accounts held by the deceased.
We'll carefully review the Estate and ascertain if any other documents are needed for the release of funds and the settlement of bank accounts.
We'll then send a letter to the Executor/Solicitor outlining the accounts the deceased held with us. If the review revealed that some more documents are required, the letter will also specify these.
Release of the funds held in the Estate
Once the requirements have been met, the funds held can be released to the Executor/Administrator upon completion of an Authorisation to Close Account form.
This form is available from any Bendigo Bank branch, or can be downloaded from the Forms and Documents section below.
We can only release funds by bank cheque payable in the name of the Estate, or by depositing funds directly into a Bendigo Bank 'Estate of' account.
What we can do to help with the costs of the deceased's funeral
- We are able to pay funeral expenses from the available Estate funds once we receive the original tax invoice.
- If the funeral expenses have already been paid, we will need proof of payment (e.g. copy of bank statement) along with the invoice and receipt before reimbursement can be made.
- If there are insufficient funds to cover the invoice, we may close the account and pay the balance of the account to the funeral director as a part payment.
- No other related expenses, such as wakes, headstone or memorial, can be paid without written consent from all Executors.
Other information worth considering
We've included below some further information you may find helpful.
These sections may not be relevant to everyone, but depending on the deceased's banking arrangements, you may find some useful guidance.
- Once we have the necessary documents, we're able to release funds prior to the maturity date of a term deposit held in the name of the deceased person.
- No penalties are applied and interest accrued up until date of the closure will be paid without requirement of the 30 days notice.
- However, this doesn't apply if the term deposit is held as security for a loan.
- If the deceased person is an account holder of a joint savings or joint transaction account, the funds in the account generally will not form part of the deceased Estate.
- The deceased person's name will be removed from the account once a Death Certificate is received.
Please note that this does not apply to Home Loans and Investment Loans.
- Business Accounts can be quite complex and how they're processed will be dependent on how they were established.
- Please contact your nearest Bendigo Bank branch for further information. It may also be worthwhile to seek independent advice.
- We will let the Executor or Authorised Representative of the Estate know if we are holding any securities, locked boxes or sealed packets in safe custody on behalf of the deceased.
- To view the contents of any safe custody item, a Death Certificate, Proof of Authority (such as Will, Probate or Letters of Administration) and identification will need to be provided to the branch.
- Unless you are a joint account holder, or a guarantor, you won't be responsible for any debts in the deceased person's estate.
- If you're an additional cardholder, your access to the account will cease. If you require access to a credit card facility you will need to apply for a new credit card in your own name.
- If you have any questions, please don't hesitate to contact your local branch to discuss your options.
Loans in deceased person's name alone
What happens to any amounts owing to the bank?
- Once the estate has been assessed and debit balances have been offset against any credit balances, any surplus funds will be released as per any authorised instructions that have been sent to us.
- If you have any questions in relation to any outstanding loan accounts, please contact Mortgage Help.
Loans in joint names with the deceased
- Joint accounts can continue to be operated without change, alternatively the account title can be amended to the joint account holders name.
- We cannot change the title of an account until the security title has been adjusted - please contact us to discuss this.
- It is expected that the account would be operated within its original terms.
- For people experiencing financial difficulties maintaining payments, please contact Mortgage Help.
Forms and Documents
Contact us to find out more
Our Deceased Estates team are able to speak generally about the process but will not be able to give you specific information about the accounts.
Australian Funeral Directors Association
To assist in planning the funeral and selecting a funeral director.
Bendigo Bank Deceased Estates
1 An originally certified copy is an original document that has been certified by a person, based on state requirements, such as Justice of the Peace or Solicitor. Please check the full list of acceptable persons authorised to certify documents in your state.
2 Full name, address, date of birth and signature are required on all documents. Please provide a certified English translation for documents in another language.