A lifetime of careful saving and smart investing, all reflected in the balance sheets of your Citi Bank account. The funds you’ve gathered, the accounts you’ve managed, all contribute to your financial legacy. But what happens to your Citi Bank accounts when you pass away?
As a global banking institution, Citi Bank has procedures in place to handle the accounts of deceased customers. Primarily, the options are Account Closure or Transfer of Ownership.
Account Closure
Upon the death of a Citi Bank account holder, a family member or legal representative can contact Citi Bank to inform them of the death. After necessary verifications, the bank will close the account and release the funds to the legal heir or as directed by a will.
Transfer of Ownership
If you have a joint account or have nominated someone, the ownership of the account will be transferred to the surviving account holder or the nominee after your death.
While these procedures are straightforward, they require proactive planning and clear communication with your loved ones. This is where Snug can assist.
Snug is designed to help you create comprehensive estate plans and organize all of life's details in one secure place. We empower you to communicate your wishes clearly about your Citi Bank accounts, whether it's closure, transfer of ownership, or any specific instructions regarding the handling of your accounts after your death.
But Snug does more than just manage your financial legacy. We provide a holistic approach to estate planning, helping you manage all aspects of your life, from digital assets to end-of-life decisions, within a secure and user-friendly platform.
Our services include:
- Digital Estate Planning: We help you catalogue all your digital assets, including social media accounts, emails, and online banking, and decide what happens to them after your death.
- Document Storage: Store your important documents such as wills, trusts, and insurance policies in our secure platform.
- End-of-Life Planning: Record your wishes for funeral arrangements, organ donation, and other end-of-life decisions.
- Legacy Projects: Create projects that capture your life story and values to pass on to future generations.
In our increasingly digital world, managing your financial affairs after death is as important as any other end-of-life arrangement. With Snug, you can tackle this reality with confidence, ensuring that your financial legacy is handled according to your wishes, providing clear instructions and peace of mind for your loved ones.
Snug is not just about planning for the inevitable; it's about celebrating life and ensuring that your legacy lives on, both in the hearts of your loved ones and in the financial world.
