If the deceased person is an account holder of a joint savings or transaction account (excluding loans and credit cards), the funds in the account generally will not form part of the Deceased Estate, and when this is the case the joint account holder will usually be able to continue to operate the account. The deceased person’s name will be removed from the account once we receive the Death Certificate.
Any home loans in the name of the deceased person will be considered in the finalisation of the Estate. Unfortunately, we cannot change the names listed on the loan or title. There are a number of options available to the Executor, usually involving the sale of the property or refinancing of the home loan. If the loan is joint the survivor can lodge a survivorship application to have the title changed into their name only.