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My savings if i were to die.
misters_2
Posts: 516 Forumite
I was wondering if any one could answer this.
I have saving in different internet accounts, so i dont like giving out my password, account number, etc. Simply because i dony trust anyone, lol.
What i want to know is, if i were to die suddenly how would my next of kin get access to my savings.
My savings are all paid into various accounts through my own current account, so would my own bank be able to access these savings and then release them to my next of kin? I know its a depressing question for a Saturday.
Thanx in advance.
I have saving in different internet accounts, so i dont like giving out my password, account number, etc. Simply because i dony trust anyone, lol.
What i want to know is, if i were to die suddenly how would my next of kin get access to my savings.
My savings are all paid into various accounts through my own current account, so would my own bank be able to access these savings and then release them to my next of kin? I know its a depressing question for a Saturday.
Thanx in advance.
:cool: :cool: misters :cool: :cool:
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Comments
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Hi, misters,
The banks would give the money in your accounts to whoever is administering your estate, who would need to show a death certificate and a grant of probate.
HTH
Cheerfulcat0 -
Actually, that set me thinking, I have a couple of ISAs with internet banks - how would anyone even know these existed? It isn't like a high street bank where a cheque book or debit card is a pretty good clue, some of these accounts are handled entirely over the internet. I suppose it would be a good idea to make a list of relevant organisations with their contact details, so at least the person dealing with the estate knows where to start! :rolleyes:I'm a retired employment solicitor. Hopefully some of my comments might be useful, but they are only my opinion and not intended as legal advice.0
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zzzLazyDaisy wrote:Actually, that set me thinking, I have a couple of ISAs with internet banks - how would anyone even know these existed? It isn't like a high street bank where a cheque book or debit card is a pretty good clue, some of these accounts are handled entirely over the internet. I suppose it would be a good idea to make a list of relevant organisations with their contact details, so at least the person dealing with the estate knows where to start! :rolleyes:
This is exactly what i was talking about.
A list does sound a good idea, but i wonder if such a list fell in the wrong hands, i.e Someone you didn't want to leave anything to.:cool: :cool: misters :cool: :cool:0 -
It would be an excellent idea to make a list; I have done so, having discovered the hard way how difficult it can be for the executor without one. Misters, you could leave the list locked away somewhere - a small safe or filing cabinet, for example, where people would be likely to look but while you're still alive and kicking they won't have access :-)
Cheerfulcat0 -
You wouldn't have to put sensitive info like passwords on the list, just the type of account, and the name and address of the bank or institution that it is with. That way, the person dealing with the estate would at least know the account existed and could provide it with the deceased person's details. The bank should then be able to identify the account from their records.I'm a retired employment solicitor. Hopefully some of my comments might be useful, but they are only my opinion and not intended as legal advice.0
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zzzLazyDaisy wrote:You wouldn't have to put sensitive info like passwords on the list, just the type of account, and the name and address of the bank or institution that it is with. That way, the person dealing with the estate would at least know the account existed and could provide it with the deceased person's details. The bank should then be able to identify the account from their records.
Yes, that's what we have done. We have listed all current accounts, savings accounts, credit cards, pensions, insurance’s etc. Somebody could find all of the details from statements that we keep but this should make things a lot easier if anything happened to both of us.
The only problem is keeping it up to date!
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Me too plasticman................................I have put my clock back....... Kcolc ym0
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on a slightly linked to pauls previous post subject ....
if you have a dormant account (or suspect you might) and not sure which organisation it is with.... check out
https://www.bba.org.uk
and they can help with a search.
hth
DC0 -
I sat tonight to make up a list which was suggested, but i dont really know where to start what would i put on this list as one of my accounts are with ING direct and they seem to be internet only.
Anyone got an example list that they could post to give me a rough guide.
Thanx:cool: :cool: misters :cool: :cool:0 -
Great post Misters, certainly made me think. I have a list of most insuramces & Isa`s etc but never thought about internet. My internet account is linked to my current account so I would hope that if the executor made a claim on current account then the internet & phone save would automayically be paid out.
As my account is joint with wife, she may just keep it open & never think about internet or phone save. We do talk but she is not interested in finance.0
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