Dealing with the financial affairs of a loved one after their passing can be overwhelming. One of the most common concerns is what happens to the deceased’s bank accounts—whether they had a single or joint account, with or without a will. In Singapore, specific legal procedures must be followed to access and distribute the funds in these accounts.

This article explains the process of settling a deceased’s bank account, whether they had a will or passed away intestate (without a will), and what happens to joint accounts.

Bank Account Handling When the Deceased Had No Will

If a person passes away without a will, their assets, including bank accounts, will be distributed according to Singapore’s Intestate Succession Act. However, before the funds can be accessed, a personal representative must be appointed to handle the estate.

Applying for a Grant of Letters of Administration

When there is no will, the deceased’s next-of-kin must apply for a grant of letters of administration. This is a court order that gives the administrator legal authority to manage and distribute the deceased’s estate.

Here’s a general overview of the process:

1️⃣ Obtain the Death Certificate – The administrator must first secure the original death certificate of the deceased.

2️⃣ Selection of an Administrator – All beneficiaries must agree on who will be the administrator. Those who waive their right to administer the estate must provide their consent.

3️⃣ Filing for the Grant – The administrator files a court application for the grant of letters of administration. They must also submit a schedule of assets, listing all known assets of the deceased, including bank accounts.

4️⃣ Obtaining the Grant and Settling the Estate – Once the court issues the grant of letters of administration, the administrator will:
✅ Pay off outstanding debts and liabilities
✅ Distribute the remaining assets following the Intestate Succession Act

Once these steps are completed, the administrator can work with the bank to close the deceased’s bank accounts and distribute the funds accordingly.

Bank Account Handling When the Deceased Had a Will

If the deceased had a will, the process is more straightforward. The person named as the executor in the will has the legal authority to manage and distribute the deceased’s assets, including their bank accounts.

Unlike intestate cases, there is no need for the beneficiaries to select an administrator—the executor automatically has the authority once they obtain the Grant of Probate from the court.

Once probate is granted, the executor can approach the bank to:
✔️ Close the deceased’s bank accounts
✔️ Settle any outstanding debts
✔️ Distribute the remaining funds according to the wishes outlined in the will

What If the Deceased’s Assets Are Less Than S$50,000?

If the deceased had less than S$50,000 in total assets and had no outstanding debts, the Public Trustee’s Office may assist in distributing the funds to the next-of-kin. This process is often faster and less expensive than applying for a grant of letters of administration or probate.

The next-of-kin will need to provide:
🔹 The deceased’s death certificate
🔹 Bank statements or records of the deceased’s accounts
🔹 Identification documents proving their relationship to the deceased

If you are unsure whether this option applies to your situation, it’s best to check with the Public Trustee’s Office for further guidance.

How Banks Handle a Deceased’s Bank Accounts in Singapore

1️⃣ Single Accounts (Solely Owned by the Deceased)

When a bank is notified of a customer’s passing, it will immediately freeze their accounts, including savings, current, and fixed deposit accounts. This means no transactions can be made until a legal representative approaches the bank to close the account.

If the deceased had less than S$5,000 in their account, some banks may waive the requirement for a grant of probate or letters of administration. Instead, the next-of-kin (spouse, parents, children, or siblings) can approach the bank with:

✔️ The death certificate
✔️ Their NRIC
✔️ Proof of relationship with the deceased

Important: Each bank has its own policy, and some may still require a court order, even if the amount is small.

2️⃣ Joint Bank Accounts

For joint bank accounts, the surviving account holder(s) can continue accessing the funds after submitting the deceased’s death certificate to the bank. The account balance is typically transferred to the surviving joint holder(s) proportionally, depending on the account agreement.

However, if there is a dispute among the surviving account holders, or if the ownership of the funds is challenged, the bank may freeze the account until a court order is obtained.

Why Estate Planning Matters

The death of a loved one can be emotionally difficult, and handling financial matters can add unnecessary stress. Proper estate planning ensures that your assets, including your bank accounts, are distributed efficiently without complications.

✔️ Having a will simplifies the process – Your chosen executor can immediately apply for probate and distribute your assets without disputes.
✔️ Joint accounts can be a useful estate planning tool – They ensure surviving account holders have immediate access to funds.
✔️ Consider creating a trust – A trust can help protect and distribute assets smoothly, reducing legal delays.

If you’re unsure about how to protect your assets or plan your estate, speaking to an estate planner can help you create a clear, legally sound plan that gives you peace of mind.

Need Help Accessing a Deceased’s Bank Account in Singapore?

If you’re facing challenges with closing or accessing a loved one’s bank account after their passing, we can help guide you through the necessary procedures.

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