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Posts: 4495

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Q: What happens to your bank account when you die ?

I don't have much mean green (red?) in the local ABC, but if I unexpectedly check-in to the Dirt-Nap Hotel I would like to see my meagre savings go to my mom in Texas, rather than get turned over to the PRC govt.

 

I suppose there is some sort of paperwork we are supposed to complete and bring to the attention of the bank and to the entity that is sponsoring us here ?

 

Also it would be interesting to hear what happens to one's funds if the paperwork is not in place.

11 years 20 weeks ago in  Money & Banking - China

 
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Posts: 107

Governor

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It's a interesting question, but I have no ideal about it as well.

even I am Chinese and I have my own ABC account, I do not know what it could be after something happend to me..

Nessquick:

As you are chinese, u may have to help us a bit., and ask for this matter there for us ? Thanks in advance :-)

 

11 years 20 weeks ago
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11 years 20 weeks ago
 
Posts: 3318

Emperor

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Wen Jiabao gets a new suit

Nessquick:

hahaaa :)

11 years 20 weeks ago
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diverdude1:

lol,, probably,,,

11 years 20 weeks ago
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11 years 20 weeks ago
 
Posts: 3025

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There is a document called "TESTAMENT", and if properly done and notarized, it will instruct others how to settle your estate once you depart for greener pastures.

 

 

In my case, i have one done in English, duly notarized and registered, and it is called an open will.  It is countersigned by two witnesses, and i had a professional translate it into

Chinese.  My two witnesses do have a copy sealed in an envelope with instructions to open it and execute my last will.  At home, in my safe, I have the original, and the person I designated to inherit the bulk of my state knows how to access the safe, and has instructions to do so if and when I die.

 

Not only in how to dispose of my assets, but the medical treatment I am in agreement with, and how and where to dispose of my remains.

 

i guess it is a good idea to follow the Boy Scouts motto, of "Be Prepared". 
Otherwise, eventually the State will end up with your estate.

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11 years 20 weeks ago
 
Posts: 2604

Shifu

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your bank acct will always be open unless someone closes it. you can't money on the other side aftrall its just paper compared to the gold up in heaven

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11 years 20 weeks ago
 
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Shifu

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The money will belong to Nominee..and your account will be closed..

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11 years 20 weeks ago
 
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Governor

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You can't take it with you. But if you are interred at a massage parlour. as I want to be, the funds can be withdrawn to pay for services. Yes I want sex after death.

 If there is no will, power of attorney etc then the State claims it.

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11 years 20 weeks ago
 
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