Executor - Internet nightmare

baby_boomer

I truly think this is something that our legislators may have to address.

Here's the rather ineffectual advice given by the best book I have on the subject of wills & probate from two lawyers:

"Many people now manage their accounts online. This may cause a problem if, as is to be expected, there is no written record of the deceased's ID & PW. But there is usually something to indicate that the deceased held such an account."

Is there really?

Personally I never elect to go "paperless" in order to ensure that there is such a written record. But how many do go "paperless"?

Shouldn't there be legislation that there is at least one written communication pa in order to ensure that there is not a proliferation of dormant accounts in the internet age?

Then there is the issue of other internet sites :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek:

I've found Quidco helpful - but only because I had the deceased's UN & PW because I helped him set up the account.

What about those people with multiple online betting or casino or shopping or auction accounts? How is any executor supposed to find out about those?

And what other internet finance can people think of that is likely to elude the investigations of even the most thorough executor?

Should Martin and MSE be campaigning in this area? I think they need to.

Farway

baby_boomer wrote: »

Should Martin and MSE be campaigning in this area? I think they need to.

Not IMO, it would be more helpful if people made an "in event of my death" folder, list or whatever & left it somewhere safe, and told executors where it could be found

pollypenny

Very good point, BB. A couple of years ago, I had trouble opening a saving account because I couldn't produce a paper utilities bill.

The Council Tax was only in OH's name, but phone and broadband, plus gas and electric are in mine and paperless.

monkeyspanner

Many credit cards are now paperless, probably so you forget to pay the bill off unless you have a direct debit mandate in place.

There is also the problem that if someone could get access to a deceased persons accounts and online identities it is possible to keep these identities and accounts active indefinitely.

If you are an executor you could consider that say an e-bay account with good feedback as having some intrinsic value in the same way that a trading company may have a value. Probably e-bay have something written into their T&C to prevent accounts being transfered but I am sure there would be a way round this.

If you are concerned about lost accounts try here:
https://www.mylostaccount.org.uk/search.htm

National savings do a similar service and I believe there is also a service for insurance/assurance policies.

baby_boomer

Farway wrote: »

Not IMO, it would be more helpful if people made an "in event of my death" folder...and told executors where it could be found

Of course that would be ideal.

Just like it would be ideal if everyone made a will.

Bu they don't.

novice-saver

banks and building societies do send out some paperwork when internet only accounts are set up - at least user ID, on company headed paper.

they send information to a real address for their own and hmg's reasons.

provided that information is filed/kept there should be enough of a trail to follow, come the evil day.

aloise

Farway wrote: »

Not IMO, it would be more helpful if people made an "in event of my death" folder, list or whatever & left it somewhere safe, and told executors where it could be found

I've done one of those and update it regularly. Also backed it up on a memory stick and have told all who it might apply to. Aren't I a clever so & so then

Biggles

I've mentioned before my 'Dead Dad folder', clearly labelled Dead Dad and, hopefully, containing anything anyone would need in the event of my popping my clogs too suddenly to whisper the account numbers with my dying breath.

hcb42

Biggles wrote: »

I've mentioned before my 'Dead Dad folder', clearly labelled Dead Dad and, hopefully, containing anything anyone would need in the event of my popping my clogs too suddenly to whisper the account numbers with my dying breath.

LOL.

I managed this ok twice quite recently, although i did set my mother up with AOL (even managed to cancel that..!) and I dont think her ebay name was worth much

RabbitMad

The first thing I did when my relative die was go through their paper work - I also took the computer and went through the emails to help identify assets.

Biggles

With pooter-aware deceased peeps, it's also worth checking for spreadsheets (eg 'Bank account.xlsx') or a link to one of the money management programs.