Losing a loved one presents challenges on various fronts. Alongside the emotional turmoil of grief, there’s the practical aspect of managing their affairs, including navigating through their accounts and addressing the cancellation or transfer of ownership.
Typically, individuals are subscribed to numerous digital services alongside utilities, insurance policies, memberships, medical prescriptions, and other recurring payment commitments. Resolving these accounts is essential to prevent unwarranted charges and shield against identity theft and fraudulent activities. If you’re tasked with handling these accounts, your initial steps involve identifying their holdings and determining the appropriate course of action.
Determining Whether to Cancel or Retain an Account
Initially, you must ascertain the accounts held by the deceased by reviewing their mail, email, or phone alerts. In some fortunate cases, the deceased might have documented a list as part of their estate planning. Once you’ve established the accounts under the deceased’s name, you can proceed to the subsequent step of determining whether to retain or terminate them.
Subscription Services
Subscription services often represent easily accessible options for cancellation. Unless the service offers a family plan, it’s typically straightforward to terminate.
On average, Americans subscribe to around five services, with one in five having eight or more subscriptions. Alongside digital media platforms such as Netflix, Hulu, Disney+, YouTube TV, and Apple TV, it’s important not to overlook delivery memberships like Amazon Prime and Walmart+, as well as subscription box services.
Additionally, Amazon Prime and Walmart+ members may have regular monthly deliveries for specific items. Furthermore, digital subscriptions to newspapers and magazines, often linked to Kindle accounts, should be considered. Kindle Unlimited, boasting 150 million subscribers, is another potential account requiring cancellation.
Patronage Accounts
Autonomous content creators constitute a significant segment within the digital media landscape, and an increasing array of platforms offer avenues for “digital patronage,” entailing direct and recurring support to online creators.
Platforms facilitating digital patronage encompass Patreon, Twitch, Substack, YouTube, and Facebook. Beyond these platforms, creators may also facilitate patronage, like subscriber-exclusive content, via their personal websites.
To identify if a loved one has subscriptions to preferred content creators, review bank or credit card statements. Similar to subscription services, patronage accounts are prime candidates for cancellation.
Utilities
Utilities might require temporary retention under the deceased’s name, transfer to another account holder, or cancellation, contingent upon the situation.
- It’s generally acceptable to retain utilities under the deceased’s name temporarily during estate settlement, but it’s advisable to verify with the utility provider.
- If the deceased shared a residence with someone else, utility accounts should be transferred to that individual. The same applies to a family member assuming occupancy or ownership, such as when the property is gifted to a beneficiary or established as joint sibling ownership.
- Utility accounts can typically be canceled after estate administration, but consider the timing if the property is being listed for sale. Utilities are usually maintained until after the closing of a sale.
- While not officially a utility, a home security system should receive similar attention. Security remains vital, especially for unoccupied homes during estate settlement periods.
- Refrain from deactivating a loved one’s cell phone service until all necessary information, including notifications about bills and other services requiring cancellation or transfer, has been retrieved from the phone.
Miscellaneous Accounts
Numerous accounts fall within the primary categories outlined earlier, yet uncovering every account associated with a loved one’s name may require diligent investigation. Here are additional examples of accounts that may necessitate resolution, either through cancellation or, when feasible, transfer of ownership:
- Gym memberships, sports clubs, cultural institutions, unions, homeowners associations, Costco, and other fee-based memberships
- Physical subscriptions to newspapers, newsletters, and magazines
- Social media and dating site subscriptions
- Financial advisor, personal trainer, accountant, life coach, and similar service provider memberships
- Pet-related dues and subscriptions
- Meal delivery services
- Music subscriptions (Pandora, Spotify, Apple Music, Amazon Music, Sirius XM, etc.)
Don’t forget, memberships with account holder benefits, such as airline subscriptions with air miles, can be transferred. Reach out to the relevant companies to ensure your loved one’s benefits are passed on appropriately.
Probate, Estate Administration, and Executor Legal Assistance
While grappling with the emotional turmoil of losing a loved one, you may find yourself contending with legal matters surrounding their passing. Assuming the role of an estate administrator or executor entails significant responsibilities. Our team provides specialized services designed to assist executors in fulfilling their duties in accordance with both their loved one’s wishes and legal requirements. For guidance on estate administration inquiries, don’t hesitate to contact our team.
