Ask Terry Questions Executor Access to Accounts

Executor Access to Accounts

By Terry Savage on February 17, 2024 | Financial Planning / Retirement

Hi Terry,
I have a will and have designated an Executor. The Executor has agreed to perform that function on my passing. My question is this: Should the Executor have access to all the user IDs, passwords and security questions for my financial and brokerage accounts, or just the names of the firms and associated account numbers?

FYI, I currently have the access information (account #, passwords etc.) in a safe deposit box. I assume my Executor will contact my lawyer to get access to the box. My concern is to prevent any removal of funds before the probate process begins.

Terry Says

First, if you don’t trust he executor not to remove funds, then you have the wrong executor
Second,the executor might not have access to your safe deposit box, until probate has been filed — way too late.
Fill out my Personal Financial Organizer form,and leave it where your executor can find it.

And finally, do you know that your executor can’t have access to any of your money, even if needed for your care, until after your death, unless you create a springing business power of attorney.

Recent Financial Planning / Retirement Questions



a personal
finance question