Payments after my Death

[Mrmusic2007]

Help please.

just thinking ahead....

i receive regular monthly payments into my PayPal account, in respect of sales of music, from 2 web sites.

These payments will not cease after my death, as the Music will still be available for purchase.....

If I open a business account, rather than a personal one, will that avoid my exors having to close my account?

I intend to set up some form of simple trust in respect of this money, but that's a different story!

any suggestions as to how to proceed?

thanks

[ShelleyD]

Hi Mrmusic2007

Welcome to the commmunity!

Same process applies to either a personal or a business account, the executor would need to supply documents to close a PayPal account following a death.

Hopefully they will not have to deal with it for many years yet.

-ShelleyD

[Mrmusic2007]

Thank you for your concise explanation.

So. my exors will have to inform the music publisher web sites to stop making payments to my paypal account and make  arrangements in accordance with my will/ trust as to where the money will be paid.

I too hope its a while off, but need to think ahead!!