#17 - Top Subscriptions That Cost Executors $$$
Reluctant Executor News
Some of the things that people leave behind when they die are uncanceled subscriptions. Subscription details typically are not included in a will, so most executors only find out about them after being charged for a renewal.
The posts below cover 2 common subscriptions that executors should keep an eye out for.
LinkedIn post from June 27, 2023
Overlooked Subscriptions That Could Cost Executors $$$ (Part 1/8)
Antivirus is a service that works in the background to protect your computer, but it could cost an estate hundreds of dollars and provide no benefit.
Antivirus software, like Norton or McAfee, scans a computer and creates reports to show if a computer is at risk.
It just takes one blocked virus to see the benefits.
However, if the computer was only used by the deceased, the family may not know about this subscription.
Since these services work in the background, a paid subscription could be hard to spot even if you have access to the computer.
Even worse, these services aren't automatically canceled when you get rid of the computer.
Its common for antivirus software to be sold at a huge discount for the first year, and then double or triple upon auto-renewal.
If you have access to the computer, search for any antivirus software, then check if you can log into the service from there to cancel.
If you can't access the computer, check if there were any charges on the last 12 months of bank statements. You may have to call the company to cancel.
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LinkedIn post from June 29, 2023
Overlooked Subscriptions That Could Cost Executors $$$ (Part 2/8)
Remember TripTiks?
If you see a thin spiral bound map with a specific route highlighted in a family member's car, there is a good chance they are a member of an auto club like AAA.
While these clubs may seem like relics of the past, almost half of people over 55 belong to one.
Auto clubs provide services like roadside assistance, discounts, and travel planning. But if you're part of a younger generation that grew up on GPS, an auto club membership is not the first subscription you think to cancel as an executor. Since these usually auto-renew, it could cost the estate upwards of $200 annually if overlooked.
If you do find an account after the owner passes away, check to see if anyone else is listed on the membership, like a spouse. To cancel the service, you can log into the owner's account and cancel online. If you don't have the credentials, contact member services by phone.
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Estate Map
Subscriptions are hard to find, unless you already know about them. You can save your family hours of searching and hundreds of dollars by taking the time to document recurring subscriptions.
Reluctant Executor's Estate Map template is a free resource that can help you document your subscriptions. You can download an Estate Map template to get started, or contact me at Bill@ReluctantExecutor.com for one-on-one guidance.