What happens to money after death?

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=Death is, in everyday life, a taboo subject and many people are reluctant to discuss the issue. However, I encounter such questions more and more often. So what happens to money after death? An instruction in the event of death is now a given in every bank. The possibility of submitting it results from the provisions of banking law. Recently, the Sejm passed an act that makes it easier for heirs to access savings and deposits left in banks by the deceased.

Okay, but what will happen to the assets accumulated in the brokerage account? And what about the funds deposited with the forex broker? Reader, think about whether you even consider the possibility of your own death, even if it is sudden, e.g. an accident? Do your loved ones know that and where you have financial resources? Will they know where to look for them if something happens? Or maybe you don't care and whether it is out of laziness or spite towards potential heirs, you would rather the money simply disappear after you kick the bucket?

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It can happen at any moment. A stroke, a heart attack, a speeding truck, a driver skidding in the opposite lane. The list goes on. There is no, but it is not a guarantee that you will manage to take care of all your affairs before you leave the world of the living. Some things are worth thinking about in advance. First of all – let someone know. I will not dominican republic whatsapp database anyone to make a will, because I am too lazy for that myself. There is also no need to call the family for a “serious talk” and tell them that although we feel fine, but… (at this point the hairs of those gathered stand on end).

All you need is a piece of paper, tucked away where you keep your various documents . And on the piece of paper, a list, for example: "I keep my savings in banks x and y. I have investment fund units in a given fund and shares in a brokerage account in a given brokerage house. I also have investment accounts with the following brokers." That will be enough for those interested to know where to look for our material legacy after the last tear has been shed, so that it does not go to waste.

There is a lack of instructions for death in non-bank institutions
However, it won't be easy everywhere. I decided to ask here and there (apart from banks) what formalities are required to take over the material inheritance of a deceased investor. My Brokerage House was the first to go, because I keep a little something there myself. I received a terse but specific answer to my polite email, which I will quote in the style and spelling of the original:

In the case of a brokerage account, the procedure is the same as for other assets. The heirs must present an inheritance division agreement and a statement of which accounts the inheritance is to be transferred to.

It looks like the so-called statutory heir will hit the wall. It is not enough for him to show up and show the death certificate. He must also prove his right to inherit, so court proceedings are unlikely to be enough.