While Jessica's parents were killed instantly, her sister Annabelle died days after the head-on auto crash that occured on the NSW South Coast.
Her younger sister, 21-year-old Annabelle, passed away in hospital soon after.
There has been no official confirmation from the NSW Police or hospital that the actress has died.
Her parents and younger sister - whom Falkholt was in the auto with - each died as a result of the accident, as did the other car's driver, Craig Whitall.
According to The Telegraph, Whitall's driving record includes four jail sentences for traffic offenses, a nine-year driving ban, and "at least 10 convictions for driving while disqualified".
Jessica's parents and sister were buried yesterday - January 11 - with their funeral taking place at St Mary's Catholic Church at Concord in Sydney's west.
The Falkholt family was remembered as an inseparable, radiant group.
'I always thought we would grow old together'.
"The irony of this tragedy is that Lars was such a careful driver".
Lars, Vivian, Annabelle and Jessica Falkholt.
"Their lives ending on a highway makes absolutely no sense", he said, reported by The Sydney Morning Herald.
Ponticello also spoke about the love between his sister and brother in law, "They are together and always will be".
Whitall was driving home from a methadone clinic when his Toyota SUV allegedly crossed into the path of the vehicle carrying the Falkholts.
While the actress is best known for her appearance in long-running soap Home And Away, she enjoyed minor roles in Aussie dramas Underbelly: Badness and Tricky Business. She then filmed a role in the United States film Harmony, which is set for release this year. "You will be deeply missed".