Helping you with a deceased estate

We understand that losing a loved one is a difficult time so we’ll do what we can to make finalising their banking arrangements as easy as possible.

We have prepared the following information to help you through the process of settling any NAB accounts held by the deceased.

Helping you with a deceased estate (Download a PDF Version)

Next stepsAdditional informationChecklist of requirements

Glossary of terms
NAB contact details

If you have any additional questions, or if there’s anything else we can help you with during this time, please do not hesitate to speak to our staff at your nearest NAB branch

We’ll be happy to help. 

Helping you with the administration of a deceased estate

You may feel that it would help to have some guidance in managing the complexities involved in the administration of a deceased estate. Help is at hand.

National Australia Trustees offers a number of services to assist you through this time. Some of these services include:
  
Estate Administration Service

National Australia Trustees has extensive experience and knowledge of estate administration procedures, and acts as Executor and Trustee of deceased estates.  Appointment of National Australia Trustees facilitates the professional and impartial handling of a deceased estate.

A service where National Australia Trustees assumes the role of Executor for clients who have themselves been appointed Executor of a deceased estate, which may be complex or sensitive.

You can contact National Australia Trustees Limited and speak to one of our experienced and considerate staff by calling us or by sending an email.

Next steps

Step 1: You’ll need to provide your nearest NAB branch with original documentation or a photocopy
certified as true and correct showing the person has died.

This can either be a medical certificate listing the cause of death, a death certificate or an
original funeral invoice/account.
In the event that there is a will, the original or a photocopy certified as a true and correct copy should also be provided.

Step 2: You’ll also need to provide contact details including the name, address and contact phone number of the person(s) representing the estate, for example, the executor, next of kin or administrator.
The person (s) representing the estate may need to complete a 100 point identification check if they are not an existing NAB customer.

Step 3: Once you’ve given us this information, we’ll give you the details of any assets/liabilities
we hold on behalf of the deceased.
If the deceased has investments with any other companies within the National Australia Group,
for example MLC, then you will need to contact them directly on the numbers provided.

Step 4: We’ll then write to the estate representative with information about what else needs to
be done to finalise the estate.

Additional information

Individual accounts
Once we have been notified of a death, all accounts held solely in the deceased’s name will be frozen to debit transactions including direct debits, periodical payments and cheques.

Joint accounts
Any joint account held by the deceased with another individual can continue to be used by the surviving person.

Funeral expenses
We can release funds from the deceased estate account to pay for the cost of the funeral as long as there are enough funds available.
We can arrange payment of the funeral once you’ve provided us with the original funeral invoice.

Checklist of requirements

• Original or a photocopy certified as true and correct of a medical certificate or Coroner’s
  report listing the cause of death or
• Original or photocopy certified as true and correct of a death certificate (if available) or a
• Copy of the death notice from the newspaper
• Original or a photocopy certified as true and correct of the grant of probate or letters
  of administration (if available)
• Original or a photocopy certified as true and correct of the will (if available)
• The original funeral invoice / account if funds are required from the estate to pay for the
  funeral expenses
• Address and contact details of next of kin or solicitor or executor and
• All signatories have completed a 100 point identification check if they’re not existing NAB customers

Glossary of terms

Administrator:
The party(s) appointed by the Supreme Court to deal with the estate of the deceased when he or she has died intestate

Beneficiary:
Person who shares the proceeds from a deceased person’s estate

Deceased estate:
Property and assets of a person who has died. When a person has passed away, an appointed executor or administrator holds their estate in trust until the property and assets are
transferred to the beneficiaries

Estate representative:
The authorised representative of the deceased, such as a solicitor, next of kin or trustee

Executor:
Person appointed in the will who holds the estate in trust. The executor’s responsibility is
to carry out the deceased’s wishes as expressed in the will

Intestate:
An individual who has passed away without leaving a valid will

Letters of administration:
A document granted by the Supreme Court that appoints a party to administer the estate, when the deceased did not leave a valid will.

Next of kin:
The closest living relative of the deceased.

Probate:
Proving that the will is a valid will. The grant of probate is evidence that the Supreme Court has granted authority to the executor to collect the deceased’s assets and to administer the estate in accordance with the will.

Proof of death:
Death certificate, medical certificate or funeral account / invoice.

Signatory:
A person who is authorised to sign on an account on behalf of a deceased estate and will provide instructions to NAB. This includes:

• Administrator
• Estate Representative and/or
• Executor

100 points of identification:
The Anti-Money Laundering & Counter Terrorism Financing Act 2006 was introduced by the Australian Government to assist in the detection of criminal activity and tax evasion. We require you to show sufficient identification to obtain a minimum of 100 points of identification before you can open an account, become a signatory to an existing personal or business account or apply for a safe custody service with NAB

NAB contact details

If there is anything else we can help you with, please visit your local NAB Branch, or if the deceased was a business customer, please contact their NAB Business Banker.

Also, if the deceased had any business with the following, you’ll need to contact them separately:

* The information is intended as a guide only so please be aware that some exceptions may apply.