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

Frozen_up_north

As others mentioned, assuming there is a will, the executor(s) present the bank with a death certificate and show the bank staff the will. The account(s) will be frozen until probate is obtained.
The bank can release funds to cover an invoice from a funeral director.

Keep_pedalling

mta999 said:

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

That is not quite true banks will pay out quite large sums to estate administrators for quite large sums without probate. For example if you have under £50k with Barclays you can release that without probate.

Vitor

Providing an up-to-date list of savings accounts, investments etc. to your executor(s) is they key thing so they know where the estate has an interest. And of course the location of physical assets, I've stashed pieces of gold 10 paces West and 6 paces North of the patio door.

dllive

Vitor said:

Providing an up-to-date list of savings accounts, investments etc. to your executor(s) is they key thing so they know where the estate has an interest. And of course the location of physical assets, I've stashed pieces of gold 10 paces West and 6 paces North of the patio door.

Where was it you said you lived again? 

Ergates

Vitor said:

Providing an up-to-date list of savings accounts, investments etc. to your executor(s) is they key thing so they know where the estate has an interest. And of course the location of physical assets, I've stashed pieces of gold 10 paces West and 6 paces North of the patio door.

You should definitely tell people you've done this, even if you haven't.   Especially if you haven't.

Ergates

Undervalued said:

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.

It would be legal - assuming you have permission of the account holder.   But it would breach the banks account use policies.

PHK

Ergates said:

Undervalued said:

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.

It would be legal - assuming you have permission of the account holder.   But it would breach the banks account use policies.

This is true but the breach of the terms is what would cause the issue . Potentially delaying things whilst the bank worked out how a dead person gave authorisation. 

There's an established mechanism to release funds (for example for a funeral or where the deceased is financially caring for someone). In it's basic form, the The death certificate , will and ID of the person attending the bank will release funds. 

Grey_Critic

In my safe are our Wills - LPAs - House Deeds . Investment Documentation and various other documentation PLUS an envelope that contains what is titled Essential Information. 

It lists everything  - Banking - Investments - and email addresses and passwords. This is updated on a regular basis. in other words HARD COPY. 

This is based on advice found on the Age - UK website and discussions with our children. The family have put together their own versions - never say there is plenty of time to do that you never know what is round the corner.

victor2

I use Bitwarden, as does DD. I paid US$10 for 12 months premium, which allowed me to assign DD (who uses the free version) as allowed emergency access to my account. If I don't renew the premium, it will drop back to free, but the emergency access person will remain in place, I just won't be able to change it 
DD doesn't need to be told anything other than she can request emergency access to my account should I not be around to deny it.
I have over 50 online accounts plus other details stored in my Bitwarden account, so pretty much everything DD will need should be there.