Convert your accounts to joint accounts, they will retain access after your demise.
Not necessarily true - you need to make sure that they are held as joint tenants. In this case, on the death of one of the tenants, the whole account becomes the property of the remaining person and all the funds are immediately available.
Normally, joint bank a/cs are setup as joint tenants - but check the small print in the terms and conditions - yes, it is very boring and difficult but ...
Not necessarily true - you need to make sure that they are held as joint tenants. In this case, on the death of one of the tenants, the whole account becomes the property of the remaining person and all the funds are immediately available.
A different format is tenants in common - in this case, on death, the account becomes the property of the dead person's estate and is transferred to the dead person's estate and can not be accessed until grant of probate.
Normally, joint bank a/cs are setup as joint tenants - but check the small print in the terms and conditions - yes, it is very boring and difficult but ...[/QUOTE
No, in the case of death of spouse, you still need a will which states that all assets are left to living spouse. No bank will give access to individual account without grant of probate. Make a will now - it's easy to do via the Internet - get it witnessed properly and locate it in a safe place. Even then, it will take time after death of a spouse to gain access to assets. As they used to say in the Girl Guides - Bí Ullamh - which means - Be Prepared!
what website allows you to make a will on the net? thanks....
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