Deceased Estates

The following information has been prepared to guide you through the process of finalising any Auswide accounts held by the deceased.

Step 1: Notification of the deceased

To notify us of the situation, you can visit your nearest branch, write to us at PO Box 1063, Bundaberg Qld 4670 or complete a Deceased Estate Notification form and email it to auswide@auswidebank.com.au or fax it to us on 07 41 52 3499.

The person(s) representing the estate (e.g. the executor, next of kin or administrator) may need to provide identification if they are not an existing Auswide client. Please provide proof of death and a certified copy of the Will (if available at this time).

Step 2: We will contact you

We will send a letter within 10 working days to the person representing the estate providing details of the processes and documents required to settle each account.

Step 3: Finalisation of the accounts

Once we have all the necessary documents, we can close the accounts and release the funds via a transfer to an Auswide Estate Management Account or by issuing a cheque made payable to the estate.

Additional information

Individual accounts – Once notified, all accounts held solely in the deceased's name will be frozen against withdrawals and deposits.

Joint accounts – a surviving accountholder can continue using the account or the account can be transferred into the surviving accountholder's name solely. It does not form part of the estate.

Loan accounts – the account will remain in its original form unless instructed otherwise. You may wish to change the land title ownership records or you may prefer that the remaining loan revert to your name only or that the loan account is paid out by the estate. We can make the appropriate changes or closure to your accounts upon your instructions.

Funeral expenses – we can release funds from the account of a deceased person to pay for the cost of the funeral. No other expenses can be paid. To pay this account, we will require the invoice from the funeral directors, a certified copy of the will to determine the executor/s and a signed withdrawal form endorsed by the executor/s.

Funeral reimbursement – the person who paid the account can be reimbursed upon receipt of the required documentation.

Cheques made payable to the Estate – these cheques should be deposited into an Auswide Estate Management Account and not into the existing account in the deceased's name. Our Estate Management Account is designed specifically for executors/administrators to manage the funds belonging to a deceased estate.

Shares – To ascertain if Auswide Bank shares are held in the name of the deceased, you will need to contact Computershare Investor Services, GPO Box 2975, Melbourne Vic 3001.

Glossary

Administrator – A person or persons appointed by the Supreme Court to administer the estate when there is no will.

Certified copy – this is a true and correct copy of the original document which has been certified by an authorised person.

Executor – A person or persons named in the will to carry out the instructions and wishes of the deceased in accordance with the will.

Grant of Probate - this is a document issued by the Supreme Court that the will of a deceased is legally valid and that the executor appointed under the will is authorised to administer the estate.

Intestate – when a deceased's person did not leave a will.

Letters of Administration – a legal document granted by the Supreme Court appointing a person or persons to administer the estate when there is no valid will.

Will – A written document which sets out your wishes for the distribution of the estate after your death

Auswide Bank Ltd ABN 40 087 652 060 (AFS Licence No: 239686) is the issuer of this account/these accounts and any non-cash payment facilities that may be used in conjunction with them. To decide if they are appropriate for you please carefully read the account Terms and Conditions.