Support for deceased estates

If you’ve recently experienced the loss of a family member or friend, we’re here to assist you during this challenging time.

When someone passes away, numerous tasks need managing and tough decisions must be made. This can feel overwhelming and confusing. We can assist you with banking arrangements by explaining what’s needed and supporting you at every stage. This includes working together on paperwork, stopping account activity, and facilitating the release of funds from the estate.

The time to finalise the estate can vary, ranging from a few weeks to several months, depending on the circumstances and the documents you already have. We may also need information or instructions from various involved parties.

Here’s a detailed explanation of what you need to do to settle your loved one’s estate.

1. Inform us

Get in touch with us promptly. You can:

Call us on 1300 13 22 77 Mon – Fri, 8am – 7pm (AEST) or +61 2 8299 9534 if you’re calling from overseas or via email askus@communityfirst.com.au
Visit your local store and speak with one of our team members
If you’ve hired a solicitor to help with the estate settlement, request them to send a letter via email to our deceased team deceasedestates@communityfirst.com.au or by post advising they represent the estate to PO Box 98 Lidcombe NSW 1825
You are most welcome to bring in original or certified copies of any relevant documents, such as the Death Certificate or Will to one of our stores. See Step 9 Authorised Certifier. A list of persons who can certify copies

Choose the method that feels right for you. Rest assured, we’ll handle your situation with care and sensitivity.

2. Locate the will

The next important step is to locate the Will to help us progress with the administration of the Estate. It is important that you locate the last known signed and witnessed copy. If you can’t find it, you should check with your loved one’s Solicitor to see if they have a copy. If no will is found for the person, they’re said to have died “intestate”. Please refer to Section 10: Glossary for further details on intestate.

3. Providing information

Anyone can let us know an account holder has passed away, but we can only provide account information to or act on requests from Authorised Estate Representative(s). To verify the representative’s entitlement to represent the Estate, we will require the following documents:

Certified copy of a Will to verify the Executor
Certified copy of a death certificate to verify next of kin
certified copy of identification of the Estate representatives (if you’re an existing Community First Bank member, this may not be required, if you’re not, we will require certified copies of ID documents)

If you have engaged a solicitor, we require a letter from your solicitor confirming they have been engaged to act on your behalf.

4. Impacts to accounts

We will take immediate steps to safeguard your loved one’s accounts and prevent unauthorised access. It’s important to consider any financial or other impacts this may have on you or others, and we are here to help you identify and manage these impacts.

Please note that all third-party authorities, including Powers of Attorney, Financial Management Orders, and authorised signatories, are ceased upon a member’s death. For more information on how we treat each account belonging to your loved one, please select the relevant account from the dropdowns below.

5. Start gathering the following documents

Full name of the deceased member, as well as ‘known as’ name
Death Certificate supplied by the Registry of Births, Death and Marriages
A certified copy of the Will, if applicable
Your proof of identification

Whilst every situation is different, the following table includes documents that may be required to finalise the Estate. This list is not exhaustive, and there may be additional documents required. We know this is a difficult time for you, so once you have notified us, our Deceased Estates team will be in touch to walk you through the documents required and how you can submit these.

An example of documents required to finalise an Estate for individual accounts
Total value of accounts held at Community First Bank at the date of death	Requirements
Less than $15,000 & the member left a Will#	– Original or a certified copy of the Death Certificate – Original or a certified copy of the Will – Statutory Declaration Form 2* – Original or certified identification of the executor(s) or beneficiary(ies) nominated on Form 2
Less than $15,000 & the member dies Intestate	– Original or a certified copy of the Death Certificate – Statutory Declaration Form 3* – Original or certified identification of the executor(s) or beneficiary(ies) nominated on Form 3
Greater than $15,000 with grant of Probate# or Letters of Administration#	– Original or certified copy of grant of Probate or Letters of Administration – Original or certified identification of executor/administrator
Greater than $15,000 with Will but no grant of Probate#	Please contact Community First Bank for documentation requirements.
Greater than $15,000 & member dies intestate and no Letter of Administration	Please contact Community First Bank for documentation requirements.

* Forms – see step 8
# Documentation executed under Australian Federal or State Regulations

6. Reimbursement for funeral expenses

Upon request from the individual who covered the funeral expenses or the recipient of the invoice, we can disburse funds, not exceeding $15,000 to cover or reimburse immediate funeral costs where there are funds to cover this expense in the deceased accounts. The requester must be identified and provide:

A Funeral Tax invoice (if the funeral expenses are yet to be settled) or proof of payment advising it has been paid
A Bank statement showing amount has been paid including payment forwarding details for reimbursement

You can request the payment or reimbursement via email to askus@communityfirst.com.au or present documents in one of our stores, along with other necessary documents.

7. Additional information

Providing documents

To proceed, we require either the original documents presented in one of our stores or certified copies of the pertinent estate documents. You have the option to deliver these in person to our store or mailing the certified documents to:

Community First Bank, PO Box 98 Lidcombe NSW 1825

Please refrain from mailing original documents as these may be destroyed or lost. Certified copies are acceptable.

Grant of Probate or Letters of Administration

Grant of Probate or Letters of Administration are issued by the Supreme Court in the state or territory where the estate is located. Usually, these documents are required when the estate’s value (balance of solely held accounts with us) exceeds $15,000 or to discharge a solely held home loan.

A Grant of Probate is a court document that verifies the validity of a Will and authorises the executor(s) to act. Alternatively, Letters of Administration may be issued by the Supreme Court, granting authority to an administrator to settle the estate, typically when there is no valid Will.

Below is an overview of the process for obtaining these documents in each state:

ACT    Probate – ACT Supreme Court
NSW NSW Supreme Court homepage
NT  Wills & probate | Supreme Court NT
QLD  Wills and probate | Queensland Courts
SA  Probate – CAA (courts.sa.gov.au)
TAS  Probate (supremecourt.tas.gov.au)
VIC  Applying for a grant of probate or administration | The Supreme Court of Victoria
WA Wills & Probate (supremecourt.wa.gov.au)

Claiming non-funeral estate expenses

We may disburse funds from the deceased estate to cover expenses such as outstanding bills or estate-related costs (e.g., strata fees) before the estate settlement.

For further information, please contact us on 1300 13 22 77, Monday to Friday, 8am to 7pm (AEST) or +61 2 8299 9534 if you’re calling from overseas or via email askus@communityfirst.com.au.

Setting Up an ‘Estate of the Late’ Account

We at Community First do open ‘Estate of the Late’ accounts. The account serves as a transaction account, allowing the executor to access estate funds more conveniently. For further information, please contact us on 1300 13 22 77 or visit your nearest store.

8. Forms

Joint Account Statutory Declaration

Sole account(s) up to $15,000 – where a Will is in existence

Sole account(s) up to $15,000 – where no Will is in existence

9. Authorised Certifier

Download a list of persons who can certify ID documents below:

Download here

10. Glossary

Here are some common terms used during the Deceased Estate process at Community First Bank.

Administration of a Deceased Estate

This involves carrying out the terms of a deceased person’s Will to ensure their intentions are followed in finalising their Estate. This process is regulated and may include transferring assets or gifts to beneficiaries, converting assets into cash, closing bank accounts, transferring shares, selling a house, transferring interest in a business, etc. The administration of a Deceased Estate is governed by legislation in each state.

Beneficiary

This is the person (or people) named in the Will who will receive assets from the Deceased Estate. If the deceased person did not leave a Will, the beneficiaries may be determined in accordance with the legislation in the relevant state.

Bequest

This is the process of gifting personal property through a Will.

Certified Copy

A copy of an original document that has been verified as being a true copy once the original has been sighted by an authorised witness. The certified copy of the document will be signed and stamped by the authorised witness.

Codicil

Any document which has the legal effect of adding to or amending the terms of an existing Will.

Death Certificate

A certificate issued by the Registry of Births, Deaths and Marriages, giving the date, place and cause of death along with other relevant information.

Deceased Estate

The property and assets belonging to a person who has passed away.

Enduring Power of Attorney

This is a legal document which appoints a trusted person (or people) to deal with or manage financial and health decisions on your behalf. Importantly, an Enduring Power of Attorney automatically ceases on the passing of the principal.

Executor

This is the person, institution or entity appointed to administer the Deceased Estate. The administration of the Estate may be complex, and the Executor may need to seek legal advice or other assistance with carrying out the administration.

Grant of Probate (also known as “Probate”)

This is a certificate issued by a court which authorises the Executor to carry out the administration of the Estate of the deceased person. Probate confirms the Last Will of the deceased person and grants the Executor the right to administer the Estate of the deceased person.

Guardian

This is a person who you appoint to be legally responsible and care for any children. The Guardian will take control of the important decisions about a child’s welfare including who will care for them, their education and where they will live. You are also able to appoint a Guardian for a person who is incapable of making decision regarding their living arrangements and personal health due to a mental incapacity or disability. An application is made to a court in the relevant state for a guardianship order to be made.

Intestacy (or Intestate)

This term applies when a person dies without executing a Will. In this situation, the law determines who receives the assets of the deceased person’s Estate. You can refer to your local State Public trustee for more information and determine what your next steps should be.

Joint Tenancy

This describes a form of ownership. If you own property as a joint tenant with another person, you own the property equally with the other person. When a joint tenant dies, that person’s share of the property passes to the surviving joint tenant.

Letters of Administration

Letters of Administration are obtained where a person dies intestate. The legislation in each state determines who the person (or people) are who can administer the Estate of the deceased person. That person then applies for a document called “Letters of Administration” through the relevant state court. Usually, Letters of Administration are granted to the closest living relative (Next of Kin).

Next of Kin

The closest living relative of the deceased by blood or marriage. The Next of Kin is noted on the Death Certificate.

Residue

This is the portion of the Estate of a deceased person which remains after payment of all debts, funeral and other expenses and provision is made for any specific gifts by the Will. In other words, the residue of an Estate is all the assets which are left over.

Tenants in Common

This also describes a form of ownership. Unlike joint tenancy however, when a person owns property as a tenant in common, that person’s interest does not automatically transfer to the other property owner. If you have a Will, your interest in the property is transferred pursuant to the instructions in your Will.

Testamentary Trust

A Testamentary Trust is a trust created by a Will and arises on the death of the Testator.

Testator/Testatrix

This is the person who has made and validly executed a Will or Testamentary Trust.

Will

A legal document outlining the deceased’s directions for the distribution of the Estate and appointing a party(ies) to carry out those wishes.