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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Question Date:  7/9/2020  7:32 PM
Author:  vkg Number:  312878 of 312938

My last email I received from Chase implied they would not help them at all even if they had a death certificate.

Death certificate works for any account such as TOD, IRA, 401K, etc... or a trust.

Setting up an automatic minimum payment and enabling margin on the account will give your heirs time to establish an executor/administrator which requires a court order. The time required varies. Locally, in normal times it takes 3 to 4 months but because of COVID probate court was shutdown for a number of weeks. Also, probate court doesn't consider paying bills an emergency.

If you don't have a will, it is time to make one and consider a trust. DIY estate planning is bad. The best statement I have heard is that no will is better than a bad will.

Does anyone in your family have access to your home? A friend passed away from a heart attack unexpectedly. He had no keys. He was using his cell phone to start his car and an electronic lock on his home. His family wasn't local. It took multiple months for his family to gain access to his home.

My sister passed away unexpectedly. Fortunately, I had keys to her house because she had pets. Also, I found her password list and had access to her phone. It allowed me to setup auto pay for her utilities until I had legal authority to manage her estate.
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