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Anonymous

03 Jun 2020

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How do I close my father's bank account after he dies?

My father recently passed away and as far we know, he didn't make a will. How do we go about closing his bank account and transferring the money to our accounts?

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Elijah Lee

03 Jun 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

I am sorry to hear about your loss.

For reference, your father's estate will be guide by Section 7 of the Intestate Succession Act (https://sso.agc.gov.sg/Act/ISA1967#pr7-) unless he was a Muslim, in which case Muslim Law and the Syariah Court are involved.

Your dad's next of kin will need to apply to the court for a Grant of Letters of Administration. The following toolkit should help: https://www.familyjusticecourts.gov.sg/docs/def....

The Grant of Letters of Administration is is a court order authorising a person to administer the deceased’s estate, and distribute their assets, according to the Intestate Succession Act (ISA).

The piority for the sequence of next of kin would be as follows:

  • Spouse

  • Children

  • Parents

  • Siblings

  • Nephews and nieces

  • Grandparents

  • Uncles and aunts

To apply for the Grant, you will need:

  • Service Bureau Form for Application for Letters of Administration

  • Schedule of Assets (write in to the banks/CPF board/Financial Institutions, etc for help on this, after the application for the Grant has been accepted, as you will need to show proof of the court approved originating summons)

  • Certified true copies of: Death certificate of the deceased, Death certificates of next-of-kin (if applicable), Divorce certificate of the deceased (if applicable), Foreign grant (if applicable), Inheritance certificate (if applicable)

Forms can be obtained from the Family Justice Court webpage (https://www.familyjusticecourts.gov.sg/resource...)

You need to apply for it within 6 months of his passing. Acceptance of the application will take a few weeks. After that, you will need to file the Supporting Affidavit and Administration Oath.

The person empowered by a Grant of Letters of Administration to administer a deceased’s estate is known as the administrator. There may be up to 4 administrators who must act jointly and unanimously.

The administrator is required to first pay the debts, liabilities, taxes, funeral and other expenses of the deceased. Afterwards, the administrator will distribute the balance of the estate according to the ISA. If there are any beneficaries of the estate who are under age 21 according to the ISA, then 2 administrators are needed.

With the Grant of Letters of Administration as well as the other documents on hand, you may then approach the bank to start the process of closing his bank account as well as withdrawal of the funds. The banks will have their own processes, so please check with them.

As you can see, the process is not what I would call simple, and I have omitted some additional information, else this answer would be an essay. I'd recommend that you contact a probate lawyer for assistance.

Take care and stay strong. All the best.

Pang Zhe Liang

03 Jun 2020

Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)

I am sorry for your loss. For this purpose, you will need to go through the administrative process to obtain a Letter of Administration. Here are some information that you may find useful: The Administrative Process on Dying without a Will in Singapore

The whole process may take a few months, depending on the availability of information and complexity of the case.

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