Losing a loved one - Deceased Estates

If you’ve recently suffered the loss of a loved family member or friend, we can help you every step of the way.

Support Guide

There for you, every step of the way

When a family member or friend passes away, it can be overwhelming and confusing -  there are countless things to be done and tough decisions to make – we can help you at this difficult time.

We can help you with understanding what's required for banking arrangements – from stopping account activity, to handling the release of money from the estate and supporting you every step of the way.

Each situation may be different, and we will tailor our support to your individual needs. Depending on what documents you already have, it may take anywhere from a couple of weeks to several months to finalise the estate. We may also need information and instructions from other parties.

Here’s what you need to do to finalise your loved one’s estate, explained in more detail below:

  1. Let us know
  2. Understand impacts to accounts
  3. Make a claim for funeral expenses
  4. Confirm your relationship to the estate
  5. Release funds and close accounts

Let us know

Contact us as soon as you can. Either by:

  • Speaking to one of our team at your local branch (and bring original or certified copies of any relevant documents you already have on-hand e.g. Death Certificate, Will)
  • Call our Estates Support Services team on 0800 111 191 Monday - Friday, 8.30am – 4:30pm or +64 9 448 8359 if you’re calling from overseas
  • Email us at asbestates@asb.co.nz and a member of our team will be in touch.

Choose whichever way you’re most comfortable with. Rest assured we’ll handle your situation with care and sensitivity, whether in person or over the phone.

After notifying us, you’ll receive a confirmation email within two business days.

What details to provide us

When you tell us about someone passing away, we need a few details. 

  • The deceased's full name and home address
  • The date they passed away
  • Something to help us identify their ASB account details, like an account number, their EFTPOS card or ASB Visa card
  • A Will, if they have one
  • Contact details of the person who’ll be looking after the estate, such as an administrator or solicitor

Don't worry if you don't know everything on this list. We can work with you to obtain the information.

We'll also need to record your details and your relationship to the deceased. We may need proof of identity such as a passport or driver's licence.

The Death Certificate

While we don't need the Death Certificate immediately, please provide it to us as soon as you can. Either show us the original or provide us a certified copy. Certification can be completed by your local Justice of the Peace (JP) or solicitor.

Confirm relationship to the estate

Account information can only be shared with an Authorised Estate Representative who has met our Identification Requirements.

Our Support Guide provides the lists of documents required to confirm that you and /or others are the Authorised Estate Representative(s).

Alternatively, we can provide account information to a solicitor if they provide a letter of representation confirming that they act for the estate.

  • Power of Attorney

    The Power of Attorney gives a trusted person the right to operate someone's accounts on their behalf should they be unable to make decisions for themselves. This only applies while the person is alive. Once they pass away, the Power of Attorney no longer applies. 

  • Life Insurance

    If your loved one has life insurance or consumer credit insurance (Personal loan or Credit Card) through us, we can start the process for you by making a claim or to cancel their cover.

    If you have jointly owned Credit Card Repayment Insurance, you're eligible to claim the deceased customer's outstanding credit card balance after they pass away. You can also continue to retain the insurance if you want. Life insurance policies purchased through ASB are managed by AIA New Zealand.

    General Insurance

    If your loved one had general insurance policies such as home or car insurance provided by IAG, it will remain in place, unless you choose to cancel it. This means you’ll need to continue paying the premiums. Home loan insurances policies purchased through ASB are managed by AIA New Zealand and New Zealand Home Loans.

    To cancel general house, home, contents and car insurance or change the policy owner details, please call 0800 200 252.

  • How to make a claim

Sorting out other accounts

We’ll act to keep your loved one’s accounts safe and prevent unauthorised access. It’s also important to consider any financial or other impacts this may cause you or others. We can help you identify and support you to manage these impacts.

For example:

  • Accounts – Accounts and cards belonging solely to the deceased are stopped to prevent further transactions, including existing recurring payments and direct debits (e.g. utility bills). Direct credits can still be received until the account is closed.
  • Credit cards – Any credit cards where the deceased was the primary cardholder will be cancelled, including cards for any additional cardholders (interest and fees on credit cards will stop).
  • Personal and home loans – Access and activity related to personal loans and home loans will cease, and stops may also be placed on any available redraw.
  • Joint accounts – A joint account is held equally by two or more people. If one passes away, the other holder(s) automatically takes full ownership. They'll be able to access funds, make withdrawals and payments. If you need help accessing a joint account, get in touch on 0800 803 804 or visit your local ASB branch. You can request an update to the account title at any time.
  • Online access – Fastnet Classic internet banking access and access to the ASB Mobile Banking app, will be canceled for the deceased.

Releasing funds

If the estate is over $15,000, we can't release any funds until the High Court grants probate over the Will. Probate involves registering the deceased's Will with the High Court, so they can confirm that it's valid. When this happens, the executor of the Will is legally empowered to execute the wishes of the deceased. That includes distributing funds and other assets. If there is no Will, the courts will appoint an administrator to determine the fair distribution of assets.

If the estate is under $15,000, we require a Deceased Estates Claim and Closure form to be completed. Your local branch can help you through this.

When closing the estate, we're required under the Anti-Money Laundering (AML) and Countering Financing of Terrorism Act 2009 to verify your identity or the identity of the people administering the estate. We'll help you work through this process.

Funeral Expenses

We can often release funds from the deceased's accounts to help pay for funeral costs. It can be a lot of help at an already stressful time. Please talk to us about this option so we can guide you through what's required.

Our Support Guide provides further information on who can request payment of funeral expenses and what documents are required.

Forms to complete

Depending on your circumstances, we may ask you to complete the below forms. We'll let you know which forms you need to complete.

Help if you need it

ASB offers a confidential and independent counselling service available to ASB customers who are dealing with personal issues. You can call 0800 284 678 24 hours, 7 days for three free counselling sessions.

Public Trust
  • Help for executors (fees may apply)
  • Arranging probate
  • Arranging a Letter of Administration
  • Taking care of the whole process
Work and Income
  • May be able to provide a Funeral Grant
  • May be able to provide a short-term loan (Recoverable Assistance Payment) to cover the costs to travel to a funeral
Inland Revenue – Te Tari Taake

If you’re an executor of an estate, you may need to lodge a final tax return on behalf of the deceased person. MyTrove – a central place to notify key utility organisations.

The information and tools suggested are intended to provide general information only. It is not financial advice and does not take into consideration your personal needs and financial circumstances. You should consider seeking financial advice before making any decision based on this information.