One stop shop?

[ID Victim]

What is the name of your state? AZ

Hi there,

I have 4-5 bank accounts, and I have tried to educate my wife about their existence. But she is a sort of ignorant. Is there some one stop place where I can register my accounts, and which, if I happen to die, come to my wife and inform her that I have these many accounts at these many banks?

TIA for any help.

 

[BelizeBreeze]

What is the name of your state? AZ

Hi there,

I have 4-5 bank accounts, and I have tried to educate my wife about their existence. But she is a sort of ignorant. Is there some one stop place where I can register my accounts, and which, if I happen to die, come to my wife and inform her that I have these many accounts at these many banks?

TIA for any help.

Yes. It's called a will, or a safe deposit box, or any number of things .

 

[ID Victim]

Thanks Blelize

I've heard of wills, but how do they come into picture? Should I register my will with the government? How does my wife come to know about my will?

Assume I go to an attorney and create a will, how will my wife know about it, or how will the banks will? Please educate, point to resources.

TIA for your advice.

 

[noname87]

Two ideas:

1) On a piece of paper write down all your assets, locations and value. Place paper (and will) in safe location (safe deposit box, safe, trusted friend, trusted family member). Tell wife where it is or who to contact. If you don' trust your wife (then you have bigger problems), then give paper to someone you trust to contact you wife when the time comes.

2) Use a financial tracking program such as quicken to track all you financial information.

 

[seniorjudge]

Q: I've heard of wills, but how do they come into picture? Should I register my will with the government? How does my wife come to know about my will?

A: A good place to read about wills is www.freeadvice.com. In some states, you can deposit your will with the probate court before you die. That is public information. You should take your wife along with you when you do that.



Q: Assume I go to an attorney and create a will, how will my wife know about it, or how will the banks will? Please educate, point to resources.

A: Your wife will know about it when and if you tell her. In fact, she needs a will also.