This follows on from the Inactivity Tweet (Tweet 123). Pretty morbid but important. If you are betting large sums of money and have money tied up in a whole variety of places you have to make provisions, that loved ones know what is happening, if anything happens to you. For example, I have all account details in a spreadsheet painting a pretty clear picture of what is going on. In fact this tweet will prompt me to go in and make sure everything is as up to date as it should be. I have not done that in a while.
Dealing with someone’s estate is a harrowing experience at the best of times, let alone trying to ascertain whether there is money in hundreds of different accounts. I am often asked about using new sets of accounts and the hassle that entails. I just cannot be bothered with it anymore as it has become increasingly difficult to get money in, keep accounts open and more importantly get money back out. The last thing I want is loved ones trying to sort out that kind of mess. I am trying to keep things as simple as possible these days.
There can be large sums of money involved so its really important to treat it with the respect it deserves. I would much rather my wife and kids get that money, than some bookmaker keeping it. These things aren’t fun to think about. You have to be professional though. The same applies to other monies owed. Betting partners. Also other financial investments or something like crypto. No point having it, if no one else can access it. Just be sensible and prepared.
ProPunting 