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Old 03-21-2008, 11:19 AM   #41
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Alan, your children will not have to send copies of your will to anyone. If you have designated your son and daughter as beneficiaries of your accounts, then they will receive the proceeds of those accounts upon your death, regardless of what your will says, and regardless of whether they even have your will. All they will need is a copy of your death certificate to prove you are dead, and then the money get transferred according to your beneficiary designations.
Thanks, I'll be sure and do this right now. I know I have them set up as secondary beneficiaries in 401(k)'s and IRA's.

The main reason for the list of institutions and account numbers is to be sure that they know who to contact and what accounts are held - after all - who is going to tell Vangurad, Fidelity, etc that I'm dead.

A maiden Aunt of DW died a few years back and in going through her accounts DW's brother, a lawyer and namd trustee in her will, wrote to one of her banks - the now infamous Northern Rock in England that has just een taken over by the government to save it from going out of business. The bank refunded the money to the trustees and stated quite clearly that this was the sum of her accounts with them. 2 months later while clearing her house they found a pass book with several thousand in it and when BIL approached the bank again they suddenly realized that they had "missed that particular account".
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Old 03-21-2008, 11:32 AM   #42
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The main reason for the list of institutions and account numbers is to be sure that they know who to contact and what accounts are held - after all - who is going to tell Vangurad, Fidelity, etc that I'm dead.

.

I do the same thing plus I include where the deed to the house and car are , my insurance information and everybody who needs to be contacted (social security ,my pension ,credit cards ,etc. )
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Old 03-21-2008, 11:55 AM   #43
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Originally Posted by TromboneAl View Post
Well, it took me 10 minutes to get the decrypter, and it ran for 2.4 hours. Here are the results:

Vanguard Boots10 swami1013
GirlsGonewild.com JustBoots whoppee27
NaughtyNurses.com MeDoctor fever87
Nice try Trombone Al you have gotten further then anyone but you are not even close. There is a message inside the text message if you do open it post the message as proof of breaking the code PGP is pretty tough to decrypt. My son and I use PGP for e-mail and password protected files I attaché his key to all in case something happens to me he can still retrieve important information.

Thanks for trying
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Old 03-21-2008, 11:57 AM   #44
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There is a message inside the text message if you do open it post the message as proof of breaking the code...
"I'm a leg man."
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Old 03-21-2008, 11:59 AM   #45
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"I'm a leg man."
No !! You are not trying you are guessing
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Old 03-21-2008, 12:00 PM   #46
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Old 03-21-2008, 12:34 PM   #47
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Thanks, I'll be sure and do this right now. I know I have them set up as secondary beneficiaries in 401(k)'s and IRA's.
For many people, or perhaps most people, having a will is irrelevant to determining how their liquid assets will pass to their heirs, and they don't realize it. The average person has most of their money and liquid assets in financial accounts (mutual fund companies, brokerages, banks etc), and for those accounts, the funds pass directly to the named beneficiaries on the accounts, regardless of what your will says, or even regardless of whether you have a will. I don't think many people understand this. Therefore, when determining how to pass your liquid assets to your heirs, the most important thing to do is to make sure your beneficiary designations are up to date, and you can simply ignore your will, or, ignore the need to have a will in the first place. (There may be other valid reasons to have a will, I am only referring to the issue of passing financial accounts to your heirs)

NOTE: I started a new thread on this topic, so please post any replies in that new thread.
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