Death..

The_Green_Hornet

Freecall wrote: »

Crikey, I don't even think Commanders of our Polaris fleet have quite that level of security.

:rotfl:

Security is no laughing matter.:eek:

Malthusian

Keep_pedalling wrote: »

Bearing in mind the majority of adults have not even bothered to get a will put in place I would think few of those people will have thought to have made life easy for whoever has to administer their estate, by leaving easily accessed details about their financial affairs.

A large proportion of adults, possibly even the majority, don't have any money. There is no need for them to leave any financial details, their creditors should be left to administer their estate.

Similarly there is little need to leave details of your financial affairs if all you have is a few thousand in your current account. All your executor needs to do is look in your wallet for your debit card.

The_Green_Hornet wrote: »

I think I would know if one of my executors has died or if I lost contact with them

Not necessarily. You may be gaga by then. Or compos mentis but simply past caring about appointing a new executor and giving them the two-digit code.

and if they lose an important envelope then maybe I just picked the wrong calibre of person. Anyhow, I will be past caring as I will be dead.

If you don't care what happens when you die I don't see the point of this elaborate Mission Impossible arrangement for accessing your finances on death.

LobsterMemory

I was at a show last year where some lot, think it was Close Brothers, offered a service that kept all these sort of details safe and sound for you.

Had to be an existing client though, it wasn't being offered as a standalone offering

gingercordial

My husband has a copy of the spreadsheet which lists everything.

If we are both dead, I keep paper files in the house of correspondence with all banks (welcome letters etc) and so someone could go through those to work out where we have things and then put in requests for full details.

Even if that were to be destroyed (say we both died in a house fire that burns those files too) I am sure that in due course almost every bank/investment would have cause to write for something, be it an annual statement, notice of AGM or whatever, and so the executors would track it all down sooner or later.

schiff

gingercordial wrote: »

My husband has a copy of the spreadsheet which lists everything.

If we are both dead, I keep paper files in the house of correspondence with all banks (welcome letters etc) and so someone could go through those to work out where we have things and then put in requests for full details.

Even if that were to be destroyed (say we both died in a house fire that burns those files too) I am sure that in due course almost every bank/investment would have cause to write for something, be it an annual statement, notice of AGM or whatever, and so the executors would track it all down sooner or later.

If you left it like that and the executors are a professional firm, solicitors for example, the estate could lose a fortune in fees. They charge £10 for writing to tell the beneficiaries that there's been no progress! Multiply that by the number of beneficiaries! Etc, etc. Each member of the staff will be keeping a time-sheet and so it goes on.

fifeken

The_Green_Hornet wrote: »

My executors each have a sealed envelope which contain two digits of the four digit code to my safe . . . .

Malthusian wrote: »

Sounds like your executors are a bit screwed if the other one is dead, uncontactable or has lost their bit of paper in a house move.

No, they'd just use the key you need when you forget the code or let the battery run out.