Deceased estates

The following brochures contain information that may be useful during this difficult time.

Deceased Estates Brochure: South Australia

Deceased Estates Brochure: Northern Territory

Notify us

Please let us know about the passing of your loved one by calling us on 1300 131 844, emailing us at [email protected] or by visiting us in branch.

Confirm your relationship to the deceased

Due to privacy and confidentiality requirements, we can only communicate directly with the following people:

• Next of Kin: closest living relative of the deceased
• The appointed Executor(s): person(s) named in a Will who are responsible for the interests of the deceased and seeing the terms of the Will are carried out or
• The Administrator of the Estate: a person chosen to deal as a legal personal representative, with the assets (Estate), when an Executor does not fulfil the role or if a valid Will does not exist.

Please note, you will be required to show documentation to verify your relationship or role.

Provide relevant documentation and identification

Depending on your relationship, we will need to see either an original or certified copy of the following:

• Next of Kin – Death Certificate
• Executor – The Will or Proof of Probate
• Administrator – Letters of Administration

You may also need to bring a form of ID (e.g driver’s licence or passport) for us to verify your identity, if you are not already an existing Member of Police Credit Union.

Please do not send us original copies of documents through the post.

We’ll be in touch

We will contact the relevant person with a letter showing all accounts and balances, that outlines the next steps

If required, and sufficient funds are available, we may be able to release funds for certain expenses. These expenses may include things like funeral expenses or estate expenses.

You will need to provide a tax invoice or proof of payment (tax receipt) if you have already paid the expense. You may also need to provide other verifications of the expense if requested.

There are several documents we will need to see. These will need to be either the original or a certified copy.

Please do not send us original copies through the post.

The documentation required will vary depending on several factors, including the value of the Estate and whether there is a valid Will.

Generally, we will need to see the following:

• Death certificate or a letter from the Executor named in the Grant of Probate
• Current Will
• Completed copy of the Police Credit Union form: Notification of a Deceased Member Form
• Proof of ID if you are not a Police Credit Union Member

If the value of the Estate is over $15,000, we will also need to view:

• Grant of Probate (if there is a valid Will)
• Letters of Administration (if there is no Will)

Other documents may also be required, we can let you know if we need anything else.

Accounts

Savings accounts and debit cards in the name of the deceased will be frozen for protection and any access to accounts, including cards, will need to be cancelled and returned. This will also mean that Online Banking and Banking App access will also be unavailable.

You can still transfer into these accounts, but you will not be able to withdraw or transfer funds outwards. Some regular automatic payments (direct debits) may still be processed.

You will need to cancel any regular payments by contacting the relevant service providers direct including utility companies or subscription services.

Once the Estate is finalised, these accounts will be closed, and remaining balances will be distributed accordingly.

Joint accounts

Funds in savings or transaction accounts where the deceased is a joint account holder will generally not be considered as part of the Estate. A new account and access options may be requested for the surviving account holder.

Home loans

A home loan in the name of the deceased is considered a part of the Estate and will be dealt with in the finalisation process. The Estate must continue to make the loan repayments until the loan is repaid in full. It is not possible to change the names listed on the loan or the property title. The Executor may need to look at options such as selling the property or refinancing the home loan.

Personal loans, and overdrawn accounts

If there are any amounts owing on personal loans or overdrawn accounts, we may combine the balances of two or more of the deceased person’s other savings accounts to clear any overdraft or loan debts.

Loan repayments must continue until the loan is repaid in full and if there are insufficient funds available to clear any such debts, the Estate will be liable for any amounts owing. We will contact the Executor directly about these accounts, and any additional requirements necessary to finalise them.

Credit cards

If the deceased had a credit card in their own name as an individual, any outstanding balance forms part of the Estate and will need to be repaid in full. The card belonging to the deceased will be cancelled along with any other additional cards on the account.

If the deceased was a joint account holder for a credit card, any outstanding balance becomes the responsibility of the surviving account holder until the debt is repaid in full. Any new spending on the credit card by the surviving joint account holder, after the date of death, will also need to be repaid. The card belonging to the deceased will be cancelled and the surviving account holder will need to apply for a new credit card in their own name if they wish to continue using a credit card account (approval is subject to lending criteria, terms and conditions).

Please note: Power of Attorney’s, Guardianship Orders and Third Party Authorities cease once a person is deceased.

Financial difficulty

If the Estate is in financial difficulty, please speak with us about your options. Read more about our financial hardship services.

Organisations you may need to notify:

• Relevant government bodies such as Medicare, Centrelink, ATO, Australian Electoral Commission, Child Support Services, Veterans’ Affairs, local council, local post office and the local library.
• Vehicle registration and licensing authorities.
• Utility suppliers including water, electricity, gas, internet, and phone.
• Landlords and/or tenants.
• Other financial organisations and insurance providers including superannuation funds and funeral bond providers.

Other useful resources

Australian Death Notification Service

Births, Deaths and Marriages: South Australia

Births, Deaths and Marriages: Northern Territory

Australian Taxation Office (ATO)

Centrelink

Australian Centre for Grief

Legal Services Commission of South Australia

Northern Territory Legal Aid Commission

Next of Kin – Closest living relative of the deceased.

Executor – Person(s) named in a Will who are responsible for the interests of the deceased and seeing the terms of the Will are carried out.

Administrator – A person chosen to deal as a legal personal representative, with the assets (Estate), when an Executor does not fulfil the role or if a valid Will does not exist.

Certified Copy – A copy of an original document, signed by a Justice of the Peace or other person who has legal authority, to say that it is a true copy of the original document.

Will – A legal document explaining how someone wishes their estate to be distributed after their death.

Probate and Grant of Probate – Probate is a legal process where a court will officially recognise a Will to be valid. Grant of Probate is a document issued by the Supreme Court that confirms the validity of the Will and authorises the Executor/s to act.

Letters of Administration – Documents granted by the Supreme Court, giving authority to an administrator to collect and distribute the assets of the estate, in the absence of a Will.

We understand that handling a recent bereavement can be complicated, our friendly staff are on hand to assist. Please visit your nearest branch, call us on 1300 131 844 or email us at [email protected] if you need any further assistance.