#23 - Even More Top Subscriptions That Cost Executors $$$
Reluctant Executor News
The only thing worse than paying for something you don't use is paying for something and then losing it. Your role as an executor is to close out the estate in the best way possible for the family. Often this means not spending money on things that are no longer needed, and distributing heirlooms and memories.
The posts below show 2 scenarios that could prove costly.
LinkedIn post from July 7, 2023
Overlooked Subscriptions That Could Cost Executors $$$ (Part 5/8)
Online storage subscriptions, like iCloud, are essential for anyone with a smart phone. But losing access to this data after a loved one passes away could cost more in lost memories than dollars.
Phones today give you the ability to take high quality photos at any time. No need to worry about running out of film. But with each picture taking up to 5 MB of storage, frequent picture takers do need to worry about running out of storage on their phone.
Luckily, companies like Apple and Google make it easy to upload you photos to the cloud, for a small fee each month.
But if you don't have the credentials to access this storage, you could lose it forever.
These companies have strict privacy policies and don't let people access others' data, even after they've died. If you don't have the password or were not set up as a legacy contact, you may need a court order.
Needless to say, navigating the court system requires patience and a lawyer.
To avoid this headache, plan ahead. You can start with the free tracker on Reluctant Executor to record online storage subscription information and much more.
Click here to comment or like this post on LinkedIn.
LinkedIn post from July 11, 2023
Overlooked Subscriptions That Could Cost Executors $$$ (Part 6/8)
Quick, which friends and family have a satellite radio subscription?
Were you able to name any?
You probably rotate between 4-6 favorite radio stations in your car. You know your radio well and can quickly find what you're in the mood for.
But how well do you know other people's car radios?
If you're not sure, imagine you're an executor and need to sell a car for the estate.
The car is in good condition, and you get a decent amount of money to add to the estate.
But if you didn't check for a satellite radio subscription, the new owner could be enjoying this paid service on your dime.
That $20/month adds up, and if you cancel the credit card that was used, you could also face late fees.
Want to get ahead of this? Download the free estate asset tracker on Reluctant Executor, and start documenting satellite radio and other subscription information.
Click here to comment or like this post on LinkedIn.
Estate Map
As an executor, one of your duties is to close out accounts. But if you don't know what you're looking for, you could end up either paying for something your family doesn't use, or lose access to precious memories that have already cost a lot to store.
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.