Hi,
This is something that has been bugging me for the last few months. What happens to the fund in the trading account when something terrible happened and the account owner is mentally and/or physically incapable of managing it? Worse, when the owner is dead (touch wood!). From my experience with the online brokers so far, correspondence is normally by email. All the info regarding the trading account is normally available when we log in. So as you can see, there's no hard copy mailing. How will your next-of-kin know about your account?
Of course, most of us (I assumed), will inform our next-of-kin accordingly. That's good and fine. What about those who forgot or just didn't want to? In that case, what will happen to the fund?
I suppose this is something I should ask the broker. It just that I'll would like to know the feedback from this forum.
Thank you.
This is something that has been bugging me for the last few months. What happens to the fund in the trading account when something terrible happened and the account owner is mentally and/or physically incapable of managing it? Worse, when the owner is dead (touch wood!). From my experience with the online brokers so far, correspondence is normally by email. All the info regarding the trading account is normally available when we log in. So as you can see, there's no hard copy mailing. How will your next-of-kin know about your account?
Of course, most of us (I assumed), will inform our next-of-kin accordingly. That's good and fine. What about those who forgot or just didn't want to? In that case, what will happen to the fund?
I suppose this is something I should ask the broker. It just that I'll would like to know the feedback from this forum.
Thank you.
KISS