What happens to bank accounts when someone dies in Australia?
What happens to a bank account depends on how it was held. A solely owned account is frozen as soon as the bank is notified of the death. A jointly owned account usually passes to the surviving owner on production of the death certificate, and often stays active in the meantime. A serious word of warning: accessing a deceased person’s account without satisfying the bank that you are authorised can land you in real legal trouble. Releasing a solely held account generally needs a grant of probate, which Willed’s fixed-fee probate service can obtain.
For related guidance, see what government payments are available after someone dies in Australia?.
Read the video transcript
If the account is solely owned by the deceased, the account will be frozen immediately upon the bank being notified of the person's passing. If the account is jointly owned with another person, the account ownership will then pass to the survivor, usually on production of the death certificate. That account will usually remain active even if the death certificate has not yet been provided. A word of warning, accessing a person's bank account after they have passed away and without satisfying the bank that you are authorised to access the funds in that account can put you into serious legal trouble.
Need a hand?
Willed’s team helps Australians with this every day.
You might also wonder
More on estate planning
0:36Can I appoint someone to make medical and guardianship decisions for me in Australia?Kevin Finn
0:27What are the first practical steps to take after a family member dies in Australia?Kevin Finn
1:03What are the most important things to sort out before you die in Australia?Kevin Finn
0:35How do I register a death and get a death certificate in Australia?Kevin Finn