14/11/2025
1️⃣ Add to Your Account: A Payable-on-Death (POD) or Beneficiary:
Visit your bank and request to add a beneficiary to your account. The beneficiary will have access to the money upon your death without going through the long, stressful court process or time-consuming probate.
2️⃣ Keep Your Bank Details Documented:
At least one trusted person should know about your bank accounts. That is wisdom. There are people nobody knows anything about their savings and investments. When such people suddenly die, their money is gone. Keep a record of your bank names, account numbers, and investment details in a sealed envelope or password-protected file that’s accessible to a trusted person.
3️⃣ Keep Your Next of Kin Information Accurate:
Many people fill in wrong or outdated details. Go and update your next of kin’s full name, phone number, and relationship at the bank. This ensures the bank can contact the right person easily.
4️⃣ Write a Simple Will:
A will legally states who should get your money and assets. Without it, your family must go through the stress of getting letters of administration, a process that takes both time and money.
5️⃣ Use a Joint Account (If Appropriate):
This is a good option for couples or business partners, a joint account with a “survivor’s clause” allows the surviving account holder to access funds immediately after one party’s death.
✅ In short: Protect your loved ones by planning ahead. Death can be funny. Add a beneficiary, update your next of kin, write a will, and document your accounts. Don’t let your hard-earned money end up trapped in the bank.
