What happens to bank accounts, what documents you need, how joint accounts are handled, and how to release estate funds — the complete guide for Australian families.
Notifying banks is often the most time-consuming part of settling an estate. Most Australian banks now have dedicated bereavement teams and online portals — but each institution has its own process, and you'll often need to contact them individually.
| Account type | What happens | Action required |
|---|---|---|
| Sole account | Frozen on notification — funds become part of estate | Notify bank, provide death certificate, await probate |
| Joint account (right of survivorship) | Passes automatically to surviving holder | Notify bank to update records and remove deceased's name |
| Joint account (tenants in common) | Deceased's share becomes part of the estate | Notify bank; estate's share is distributed per will |
| Credit card (sole) | Cancelled; outstanding balance is estate debt | Cancel card; record balance for estate accounts |
| Credit card (supplementary) | Supplementary card is cancelled; primary account continues | Notify bank; return the supplementary card |
| Term deposits | Frozen; funds released after probate or via small estate pathway | Notify bank; ask about penalty-free early access for estates |
Sole accounts are frozen when the bank is notified of the death. Funds become part of the deceased estate and are released to the executor after probate (if required). Joint accounts pass to the surviving holder automatically in most cases.
For smaller estates (typically under $50,000–$100,000 depending on the bank), most banks will release funds without requiring probate. For larger estates, probate is usually required. Ask the bank's bereavement team about their small estate pathway — they should be able to tell you upfront.
Most joint accounts in Australia have "right of survivorship" — meaning the surviving account holder automatically becomes the sole owner. The account is not frozen. You will need to notify the bank to update the records and remove the deceased's name. A death certificate is required.
Yes — most Australian banks will release funds from a frozen estate account specifically to pay funeral expenses, even before probate is granted. Bring the funeral invoice to the branch or contact the bereavement team. This is a standard exception.
Order at least 8–10 certified copies from the state Births, Deaths and Marriages registry. Most financial institutions require an original, not a photocopy or scan. You will need one per bank, per superannuation fund, one for the court (probate), and possibly others. Order extras — they are relatively inexpensive and difficult to obtain later.