I think this is more difficult since many people have the paperless option, so no bill arrives in the mail! Sure, it might be on their email, but if their email is related to a paid service (microsoft, comcast, verizon, protonmail, etc) and the bill doesn’t get paid, then the email service will be gone as well as access to any email notifications of billing!!
So, right now I have most (not all) of my billing notifications, etc. on a free webmail. Of course I have written instructions, too. But imagine if someone didn’t leave instructions and no bills arrived in UPSP mail… what a mess!
Well said.
That was my original concern…that in the many months of going through probate, that the house-related bills continue to get paid so my siblings don’t have an even bigger headache on their hands!
This right here. When my mom passed, and it was not sudden, I thought it was all under control. Wrong. POA terminates on death. Everything gets locked up in probate. Get other people on your accounts THAT YOU TRUST. I cannot convince my father in law of this, because MIL is suffering from mid to late dementia and is paranoid about everything. I’ve told him he’s about to hand a crap (not the words I used) sandwich to his daughter and son, but he is too much of a coward.
Denial is not a planning move. FWIW, I have told him that if he passes before her, she is going in a home. Period.
It’s astounding how difficult it is to find reliable info. I finally found one bank rep who was really good, and she said adding a joint owner is probably the only way to be certain.
My dad’s credit card was cancelled, not frozen - it was from BOA where he had a checking acct and credit card. They cancelled both. If the credit cards aren’t from your regular bank, they might stay open longer…??
It is what it is. She has not listened to good advice for 50+ years and she is now mental. She knows it, and yet she still refuses to all her husband to tell their children what they want done, or see a copy of the will, etc. It’s totally irresponsible. I am in the process of going through this crap with my mother and sister’s estates. Two totally irresponsible people.
You make your bed, you lie in it. If my wife insists, I’m gone. They’ve already reached the point about needing help in the home, but she throws tantrums. I’m just the SIL, but I’ve told my FIL the first time he comes in with a buise, I’m calling the sheriff. Yes, it’s that bad.
I may have some insight into the problem I encountered with my joint account being closed upon my death.
I met with an estate attorney today and that was one of my questions.
He said that my Credit Union follows Federal rules while my bank follows state rules, and that may possibly be the difference.
So the solution for me could be to put less $$ and bill paying in my Credit Union, and more in my bank.
My estate is rather simple (house, car, bank/retirement accounts). I asked if a trust is appropriate for this and he said no – a simple will is sufficient. Also, in my state, probate costs $100-$200, which is rather minimal.
I have a lot more peace of mind after talking to him! And if my executor wants, they can consult with him or hire him to do the probate process (my beneficiaries are all out of state).
It was well worth the visit!
I’d still recommend double-checking with your financial institution to be sure.
You’re lucky. In Cal, ave is $14,000 and can take months. Meanwhile, the house could be vacant and a target to squatters and vandals. Trusts are much cheaper and house transfer to heirs is done quickly with a DCert.
Did someone tell you all your successor trustee is going to need to transfer assets is a death certificate? I suggest you check on that, because when I was successor trustee, I also needed to submit the trust document naming me as s.t. (despite the fact that my dad had to send the trust document in to title the assets into the trust), plus some standard paperwork required by Vanguard/Fidelity/etc., and sometimes a signature guarantee or notary. Dad had only 1 copy of the trust document when he died, so I had to call his attorney to get him to mail me copies of the short form showing I was s.t.
Yeah, well my state gets us in lots of other ways!!
But the attorney I spoke with said that probate for a simple will like mine would be routine, not a big deal.
My bank and financials already have my Trust on file. Heirs also have copies.
When wife died 15 years ago, I got five copies of the D-cert, and was amazed how many places required one. Had five more sent and used them all. The first five was easy but had to jump through hoops to get five more.
