Monday, November 04, 2019

Let’s Say You’re Dead: Give Your Heirs a Break

Please note that this is a sister publication of WallStreetNewsNetwork ( ) and eventually everything on this site will be transferred over there.

by Fred Fuld III
Most people who think about estate planning are aware of and have probably set up wills and living trusts, and possibly medical advance directives and durable powers of attorney.
However, because so much is done online, your heirs may not be aware of all your cyber accounts. Are they aware that you have PayPal (PYPL)? Do you have any savings accounts with an online bank? What about online brokerage accounts where you have opted out of paper deliveries?
There are a lot of issues to consider beyond the will and trust. Here are just some of the tasks that you should consider to make things easier for your heirs with regards to online accounts.

Keep Track of All Your Online Accounts

The first place to start is identifying all the online accounts that you have along with logins and passwords. Some people like to type out a list on a Word document or text document. I personally don’t like that idea, unless the file is well protected and encrypted. Otherwise, if your computer is hacked, the hacker will have access to everything.
Others just write down a list of all those logins and passwords on a piece of paper. I have a friend who’s list is currently three pages long. I don’t like this practice either as it takes a long time to search through, since it is not alphabetized, and find the particular website that you are looking for.
I personally like using an Email and Website Password Logbook. These journals have alphabetized pages, so that all the accounts that begin with A are in the first section, all the Bs in the second section, and so forth. That way, I don’t have to look all over the place to find the password I want.
Since everything is handwritten on a hard copy, it can’t be hacked. (Just don’t lose it.) It is also a central repository for all your online accounts, which will make it simpler for your heirs to find everything.

Requirements for Account Liquidation Upon Death

It might be helpful to make your heirs aware of the requirements to liquidate online monetary accounts and stock brokerage accounts. For example, the requirements for PayPal are:
  • A cover sheet from the Requestor (or a person who is duly appointed or authorized to administer the estate of the deceased customer) identifying the account by the primary email address and request to have PayPal account closed
  • A copy of the death certificate for the account holder
  • A copy of a government issued photo ID (such as a driver’s license, passport or state-issued ID) of the Requestor
  • Legal documentation or a copy of the will that identifies the executor of the estate
  • State issued documentation if a living will is not present
Most online bank and brokerage accounts will require similar documents.

Facebook Accounts After Death

Social media accounts have special requirements in the event of death. As an example, Facebook (FB) has two options upon the death of the accountholder.  You can either have your account permanently deleted, which you can setup now while you are still alive, or you can have a Memorialized Account and it can be controlled by a legacy contact. Your legacy contact can be identified now also.

Twitter Accounts After Death

Twitter (TWTR) allows the removal of the account of a deceased person or an incapacitated person, with the submission of appropriate documents.

LinkedIn Accounts After Death

LinkedIn has an online form that can be filled out in order to remove the profile of someone who has passed away.

Instagram Accounts After Death

Instagram has similar options to Facebook. The account can be memorialized or it can be removed. For removal, they request the following:
  • The deceased person’s birth certificate
  • The deceased person’s death certificate
  • Proof of authority under local law that you are the lawful representative of the deceased person, or his/her estate
For other social media accounts, check out their Help link.

Email Accounts After Death

In terms of the deceased emails, this can be a delicate issue. You probably want your heirs to have access to your email accounts, especially those connected to bank and brokerage accounts, and accounts that are exclusively phone app based.
If there are any emails that you are uncomfortable with your heirs seeing, they should obviously be deleted, now.
Then there is the issue of if and who to contact about your passing. A friend of mine who I hadn’t contacted for a couple months had passed away shortly after I last called him. I received no email notification about his passing or the memorial service, even though I was on his email contact list. I only found out about it a month and a half later after reaching one of his relatives when I discovered my friend’s phone was disconnected.
Therefore, it would be helpful to provide a list of who you want contacted upon your death, along with emails, and possibly phone numbers.
You probably don’t want your heirs to do a mass email of all contacts, including the plumber you emailed two years ago, all the email newsletters that you subscribe to, the restaurant that you made an online reservation with, and so forth. So some filtering will be necessary.

Online Bank Accounts and Bills After Death

If you receive many of your bills by email, your heirs will need access to both your email account and your online bank account. Many bank customers have set up their account to autopay various bills.
Heirs need to review all bills, contact the bank right away, make sure that important bills, such as mortgage payments, are continued to be paid, and determine which other accounts may need to be cancelled, such as cable TV bills.

Online Stock Brokerage Accounts After Death

Remember that some brokerage accounts may be exclusively app based, such as Robinhood or WeBull. Most brokerage account liquidations will have similar requirements for submitting documents, however, the big issue is the sale of the stocks and bonds in the portfolio; in other words, when and how it is that done, or can the existing stocks be kept and transferred to the heirs. I suggest that you contact your own broker to get the details on the requirements and policies, if you want that info available for your heirs.

Your Cell Phone After Death

If you use dual-factor identification, access to your cell phone will be necessary. But even if you don’t, you will probably want your heirs to have access to it. Important phone calls may come in for a while, and heirs may need to access some of your finance related apps.
In your central password holding resource, don’t forget to include your cell phone’s passcode. I use this Password Logbook which sells for less than $7 on Amazon (AMZN).

Living Trusts

If you haven’t already, talk to an attorney about setting up a living trust and transferring your online bank accounts and your online brokerage accounts into the trust.
Anyone who has dealt with the death of a parent or other close relative knows the hassles involved. If you want to help out your heirs, it is a good idea to be proactive, especially when it comes to online accounts.

Disclosure: Author owns PYPL, AMZN, and TWTR. Affiliated links

Wednesday, October 30, 2019

Stocks Going Ex Dividend November 2019

Please note that this is a sister publication of WallStreetNewsNetwork ( ) and eventually everything on this site will be transferred over there.

The following is a short list of some of the many stocks going ex dividend during the next month.
Many traders and investors use the stock trading technique called ‘Buying Dividends,’ also commonly referred to as ‘Dividend Capture.’ This is the strategy of buying stocks before the ex dividend date and selling the stock shortly after the ex date at about the same price, yet still being entitled to the dividend.
This technique generally works in bull markets and flat or choppy markets, but you need to avoid the strategy during bear markets. In order to be entitled to the dividend, you have to buy the stock before the ex-dividend date, and you can’t sell the stock until after the ex date.
The actual dividend may not be paid for another few weeks. has compiled a downloadable and sortable list of the stocks going ex dividend in the near future. The list contains many dividend paying companies, lots with market caps over $500 million, and many with yields over 2%. Here are a few examples showing the stock symbol, the ex-dividend date, the periodic dividend amount.
Intel Corporation (INTC)11/6/20190.315
E*TRADE Financial Corporation (ETFC)11/7/20190.14
Target Corporation (TGT)11/19/20190.66
Lockheed Martin Corporation (LMT)11/29/20192.40
The additional ex-dividend stocks can be found HERE . (If you have been to the page before, and the latest link doesn’t show up, you may have to empty your cache.) If you like dividend stocks, you should check out some of the other high yield stock lists HERE . Most of the lists are free.
Dividend definitions:
Declaration date: the day that the company declares that there is going to be an upcoming dividend.
Ex-dividend date: the day on which if you buy the stock, you would not be entitled to that particular dividend; or the first day on which a shareholder can sell the shares and still be entitled to the dividend.
Record date: the day when you must be on the company’s books as a shareholder to receive the dividend. The ex-dividend date is normally set for stocks at two business days before the record date.
Payment date: the day on which the dividend payment is actually made, which can be as long at two months after the ex date.
Don’t forget to reconfirm the ex-dividend date with the company before implementing this technique.
Disclosure: Author did not own any of the above at the time the article was written




Tuesday, October 15, 2019

Top Books for Stock Traders

Please note that this is a sister publication of WallStreetNewsNetwork ( ) and eventually everything on this site will be transferred over there.

If you want to hone your stock trading skills, you may want to read the advice of some of the experts. Here is a list of some of the top books relating to trading stocks and options. Obviously, this is not an exhaustive list, as Amazon lists over 10,000 books relating to stock trading. At least, these will give you a start.
Trade Like Warren Buffett
by James Altucher
Most people don’t realize that not only is Warren Buffett an investor, but he is also a trader, and a successful one at that.
High-Probability Trade Setups: A Chartists Guide to Real-Time Trading
by Timothy Knight
How to use technical approaches to find the best stock trade setups.
Think & Trade Like a Champion: The Secrets, Rules & Blunt Truths of a Stock Market Wizard
by Mark Minervini
The book covers personal trading rules and the secret techniques that made the author one of America’s most successful stock traders.
Stock Trader’s Almanac 2020 (Almanac Investor Series)
by Jeffrey A. Hirsch
Every stock trader should have this resource. It will be available on November 19.
Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
by Mark Douglas
Learn the reasons for lack of consistency and how to overcome the ingrained mental habits that cost money.
Wall Street News Network Day Trading Journal: Notebook Diary Log for your Stock, ETF, and Option Trades
by Wall Street News Network
A journal with over 100 pages of specially designed fill-in-the-blank pages to track all your stock, ETF, and option trades, whether they are long or short trades. Fields include: Date, Symbol, Company, Transaction Recommended By, Why decision was made to do this transaction, Buy or Short, # of Shares, Price/share, Commission, Subtotal of opening transactions, Total opening transaction, and much more.
Wall Street News Network Stock Trading Journal: Notebook Diary Log for tracking your stocks, options, and ETFs tradesby Wall Street News Network
A logbook for tracking your stock trades and investments, priced at less than $7.
Option Volatility and Pricing: Advanced Trading Strategies and Techniques, 2nd Edition
by Sheldon Natenberg
An extensive guide to trading stock options.
Swing Trading with Options: How to Trade Big Trends for Big Profits
by Ivaylo Ivanov
Using stock momentum to generate profits on options over a three to six month time period.
Penny Stock Trading Journal: Notebook Diary Tracker of Your Penny Stock Transactions
by Borsa Valori
A five star rated book designed for you to keep track of your penny stock trades and transactions.

Saturday, October 12, 2019

How to get the Tools of Titans book by Tim Ferriss for Free

Please note that this is a sister publication of WallStreetNewsNetwork ( ) and eventually everything on this site will be transferred over there.

If you have never read the book Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss, you owe it to yourself to do so, and now is your chance to read it for free.
For those of you who don’t know, Tim Ferriss is an entrepreneur, venture capitalist, best-selling author, speaker, and podcaster. He has invested in and/or advised numerous startups, including Shopify, EverNote, StumbleUpon, Uber, Facebook, Twitter, and TaskRabbit.
The book, Tools of Titans, contains the ideas, tactics, and tools of over 200 of the world’s experts in their fields.
Currently, Amazon (AMZN) has a promotion whereby you can get the Kindle version of the book for free. ( I believe this offer is only for Amazon Prime members.) This deal is expected to be available for just a week or so, so if you are interested, I suggest that you get it now.