facebookHow should I record my banking and financial accounts password login? - Seedly

Anonymous

18 Apr 2019

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How should I record my banking and financial accounts password login?

Good afternoon. Hope to get advice or feedback from the community on how you record your banking and financial accounts and passwords so that it’s easy for the next-of-kin to retrieve if a person passes away. It’s a tricky thing also in case this list is accessed for unauthorized use. Thanks in advance for your sharing.

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Technically and legally, it is illegal to access/dispose of the deceased properties without proper authority. Either a grant of probate or letter of administration is needed to administer the estate.

Once u get the necessary grant, it will be easy to close or settle the accounts.

To work around for bank accounts, a joint account will solve it. Add the name of the trusted next of kin to his/her bank account.

Regardless, a proper Will should be drafted up to ensure his/her properties will be disposed according to his/her intention. And to ensure someone trusted will administer the properties in accordance.

I would probably need to know more details on what is your exact situation to advice accordingly.

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