We're here to help
Losing a loved one is incredibly challenging, and handling their estate can add to the stress. To make things a little easier, we can support you with the banking arrangements. We’ll guide you through every step, from handling paperwork and stopping account activity, to managing the release of funds from the estate. Each situation is unique, so get in touch to make an appointment.
1. Notify Cairns Bank
Get in contact with the Cairns Bank team and notify us right away so we can ensure the accounts are protected. Drop into our branch, give us a call or notify us in writing.
2. Determine next steps
We can arrange a time for an appointment so that we can identify next steps and advise you on what you'll need to do. If your loved one had a solicitor, you should contact them as well.
3. Finalise the estate
Certain documents will be required to finalise the estate process, and the Cairns Bank team will advise you on these.
ASIC Moneysmart Guide
ASIC has created a guide to support you through the loss of a loved one. It outlines practical steps and planning tips to help you manage this challenging time.
FAQs
What happens to the bank accounts?
To keep everything secure, we’ll put a hold on your loved one’s current accounts and any cards linked in the deceased’s name will be cancelled.
If a joint account has been setup with the deceased with either party to sign, this account will continue to operate as normal with no restrictions.
However, if both parties are required to sign, a hold will be placed on the account.
What happens to any loans?
Any loans are still considered a debt of the deceased’s estate, and the contract terms of the loan still apply.
Not every situation is the same and we are here to help. Give us a call or drop into the branch and we can talk through the options that would best suit your needs.
Can I set up a new account for a deceased estate with Cairns Bank?
Yes, you can. A new account for a deceased estate can help you manage finances and any payments. It works just like a regular transaction account, making it easier for the executor or administrator to handle any estate funds.
Certain documents will be required to open an estate account, please contact the Cairns Bank team for details.
