Bitwarden - how best to share bank logins with family in the event of my death

dllive

Hi all,

Ive recently started using Bitwarden. I know it has a feature where you can share passwords with a family member. I really only want to do this so in the event that I die/become incapacitated, my family member has access to all my bank accounts/investment platforms. 

I obviously dont want them to access my bank accounts unless absolutely necessary. I wonder how this can be best achieved? For example, can I setup 2FA for them? So they cant access it, but if I die, they can access it because theyll be able to get hold of my phone in order to complete the 2FA?

Of course, I implicitly trust my family member, but even so.

Any thoughts/guidance appreciated.

Thanks

Keep_pedalling

You really should make a lasting power of attorney to cover a loss of mental capacity. After your death your account should not be accessed they should be frozen. Your estate administrators should be able to release the funds once they have probate. In many cases they will be realeased without probate provided the amounts held do not exceed the limits set by the financial institution they are held with.

Undervalued

I am not sure it is even legal for a family member to access your accounts without a formal arrangement in place with the bank.

In the event of incapacity it is best to have set up a formal power of attorney.

In the event of death then, assuming there is a will, your nominated executor(s) are empowered to act.

Obviously, for all the bank knows, you could have made a new will the day before you die leaving everything to the cat's home!

EssexExile

No one needs online access to your accounts after you die.

flaneurs_lobster

[Deliberately ignoring any arguments about if it's right or not and of course there are many other logins other than bank accounts] 

Just in case you do want someone else to have access to your Bitwarden vault if you are incapacitated then there is a mechanism for this.

https://bitwarden.com/help/emergency-access/

Only available in the paid-for versions of Bitwarden and the person being granted (conditional) access has to be a member of your Bitwarden "family". This access has to be pre-defined.

Basically, they ask for access, Bitwarden notifies you of the request, you can deny the access. If you allow or no reply then access is granted.

matelodave

flaneurs_lobster said:

Basically, they ask for access, Bitwarden notifies you of the request, you can deny the access. If you allow or no reply then access is granted.

Cant help thinking that this isn't gonna work ever so well  if you are already dead 

flaneurs_lobster

matelodave said:

flaneurs_lobster said:

Basically, they ask for access, Bitwarden notifies you of the request, you can deny the access. If you allow or no reply then access is granted.

Cant help thinking that this isn't gonna work ever so well  if you are already dead 

I've not worded it well

Trusted person asks Bitwarden for access
Bitwarden notifies dead person of request
Dead person does not reply within configured timeframe
Bitwarden grants access

On-the-coast

IMO the important thing is keep a list of all the institutions you have financial dealings with. Also the utilities that you are responsible for rather than your partner. 
And of course pensions and insurance policy’s. 

That’s what I do

plus a few statements of intent which may or may not be ignored. 

I’ve also included ways in which to access and tastefully close or sunset social media accounts, professional memberships etc. 

My partner knows where to find this envelope.  I try to remember to update it annually. 

Tbh I’ve only recently started doing this. 

dllive

Thanks all! These things I had not considered, but will certainly look into. Thanks!

mta999

If someone dies then the bank (s) should be notified of their death and the accounts will be frozen

Noone should be logging onto someone else's bank accounts after they die.

Once executors have obtained probate then the accounts will be closed and distributed according to the will

chunter

 I too have a printed list of all logins / passwords should aliens (or Trump) invade.

One of the family knows where the list is and the others know it exists.

These include codes for phones, financial stuff, social media, everything.

I don't have anything on cloud, 

but if you have gigabytes of photos, surely it makes sense that someone can access them should the inevitable happen.

What's the point of keeping them otherwise?