Anonymous
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.