#1 - Kicking things off
Reluctant Executor News
Are you active on LinkedIn?
Since starting this Reluctant Executor project, I've published nearly 100 LinkedIn posts. Chances are you've only seen a handful of them. This newsletter is a way to directly share learnings from my journey with you.
This issue kicks things off with the first post I wrote. It gives a background to how and why I got started on this path. The responses to this post encouraged me to continue posting, and eventually to build out more ways to help you plan your legacy or assist with after loss tasks.
LinkedIn post from March 27, 2023
Over the past 10 months I've learned more than I ever expected on what to do when a parent passes away. Even though nearly all of us go through this, there surprisingly is not a great playbook for this situation.
Granted, everyone's experience is unique, but most resources give either emotional or financial advice at only a high level; they don't dive into the details of HOW to get things done.
For example, you'd expect your brokerage to send tax forms for the deceased's account to the next of kin, but who do you contact if they don't? Do you have the right permissions to receive these?
Or what do you do if your parents paid for their gravesite over 40 years ago and the cemetery lost records of the purchase?
Figuring out what to do often takes longer than getting it done, especially when going through the emotional toll of a family death.
In the coming months, I plan to share these things I've learned through my recent experience. I hope this can help someone else save a few hours chasing things that should be much simpler.
I'm sure some of you have stories as well, feel free to reach out and share those.
Click here to comment or like this post on LinkedIn.
LinkedIn post from December 4, 2023
Two weeks ago 24,000 people got news they'd been waiting 10 years for. They would finally start receiving payment back for the infamous Mt Gox hack.
But it's likely that over 1,700 people won't be around to enjoy this payment.
Mt Gox was the largest Bitcoin exchange before 76% of customer coins were stolen in 2014.
At that time, you could buy a Bitcoin for under $100. Today it is trading around $40,000.
In the 10 years that courts spent working through the rehabilitation plan, life continued on for the Mt Gox victims. Unfortunately this meant that some of them passed away waiting for their repayment.
If the surviving family knew about these claims, they could work with a lawyer to receive their share.
But what about the ones that didn't know about their relative's claims?
Some reports say that the median customer claim is worth $92,500.
That is a significant amount of money for a family to miss out on.
What is the lesson? Be transparent with your family. Even if you think something isn't worthwhile today, it could be valuable later on. Give your family that option in the future.
If you need help to get started with your legacy plan, I can help.
Click here to comment or like this post on LinkedIn.
Legacy Planning and After Loss Support
The Reluctant Executor project has evolved from sharing my experiences to directly supporting families through this journey. If you don't know where to start or are overwhelmed with tasks, I can help.
Upcoming newsletter issues will explore different offerings. If you can't wait, check out ReluctantExecutor.com or contact me.