Topic: Financial fact that the authorities would not want you to know. - page 2. (Read 189 times)

Fortunately, such things do not happen in European countries. At most, when the bank becomes aware of the death of a person, it blocks the account, but the legitimate heirs have access to it as soon as the formalities are formalised, and this usually does not last more than a couple of months.

The point here is people should be proactive and not to be nonchalant. Of course to have a next of kin in your bank credit card or in the bank whatsoever should not just end there. If you start having some substantial amount in the bank, you should be able to plan for the inevitable and who gets what which is why some knowledgeable people write their will while alive. Writing of will, you would have also gone through your lawyer to facilitate all access to bearers while you are alive and at that point you would have also gone through the banks to know what to do not to encumber your next of kin.

The point is if you have money in bank then you should be able to be making enquiries. If you ask the banks what and what to do regarding your money when you die, they will tell you but when you keep quiet, you won't get such information.

Yes I watched the video and I also saw that if you make such enquiry, you would be given a POD form (payable on death). So you can facilitate all those while alive but the challenge is people keep indifferent about certain things.

a direct beneficiary like the wife not granted to access the money is such a cruel act. i'm not sure if its happening in my country but if it does, i think the banker will not be able to walk peacefully outside the bank. 

with cryptocurrency, banks may not be the first that people need to keep their money.

I don't know how transparent and genuine other countries governments and their financial regulatory authorities has been with their citizens and the masses entirely, but speaking from experience, my late uncle who died during the the COVID-19 and left over $1,700 for the family in his bank account and after much processes the wife being the next of kin and the family as a whole has been unable to have access to the account and that is just how the money died off and only the government knows the fate of the fund til today.
In my country Nigeria, the government and the financial regulatory authorities has always kept hidden facts from us which would had been an added advantage to our knowledges and even contributes to precaution measures that we could avoid common mistakes that may seem insoluble or a long time to get solutions to it.

I recently came across this  https://youtu.be/s07NUfpPzSM?si=SY8wpCVbjgNHn2zy youTube video which a formal banker from Nigeria discloses about what the bank does not want us to know via how a next of kin would not be accessible to the benefitials bank account that if paraventurely the bank account holder dies, the bank will deny access from the next of Kin to the account if the next of kin is not an automatic signatory to the account or the account holder has not made a written will to determine the legitimacy of the next of kin.
So the bank would go a legal probate process to decide who gets the money.
Meanwhile... This legal probate in my country can take a very long time maybe years ahead to verify the processes which is definitely uneasy to meet up those tasks.
Even after the whole processes is being overcome, the next of kin would be demanded to pay huge sum of money for a legal fees to be able to have access to the account but meanwhile, the next of kin has been mentioned with all necessary requirements being provided during when the benefitial was on the bank account opening processes but the bank could not make the terms and conditions obviously for the account owner to take early awareness of it.

So this is assumed to be why the government and the financial regulatory authorities in my country has been fighting over cryptocurrencies facilitating crypto trading with the naira (#) on the Centralized P2P Exchanges.
The interest of the government is to control the centralized exchange with the forebeing of syphoning our Crypto funds.
Literally they also want to make away with our Crypto assets when we are gone and clearly stated and obvious, there is no next of kin attached to our Crypto Investments.
So, the government would want to also do away with them as they rebels us with the Centralized Fiats.

You can imagine how selfishly logical the governments can be? They tends not to let us know what is crucial and necessary but just concerned about how they can rebel the us.