What happens in the event of death?
In the event of the death of a Member, Spreds must be informed without delay by the heirs and/or beneficiaries. Spreds will then temporarily freeze the Account. As soon as Spreds receives a document attesting who the legal heirs and/or beneficiaries are (such as a certificate of inheritance drawn up by the receiver of the inheritance tax office competent for the filing of the deceased's declaration of inheritance, or certificate or deed of inheritance drawn up by a notary), Spreds will transform the deceased Member's Account into an Account in indivision in the name of all heirs and/or beneficiaries.
Spreds will communicate to its contact person what is in the portfolio of the deceased Member. A notary deed or a deed signed by all heirs and/or beneficiaries may then be communicated to Spreds indicating to whom the assets in the portfolio should be transferred to. Please bear in mind that Notes can only by divided in full. For example: 5 Notes can go to 5 different people (each receiving 1 Note) but 1 Note can’t be divided between 2 or more people. Each of the beneficiaries of the Notes must create a Spreds profile (giving us standard information such as address and bank account information in case payments are made with regards to a particular investment).
Spreds shall not be obliged to verify the validity of the documents received. Any communication relating to an Account in Indivision will be sent to the e-mail addresses provided by the heirs and/or beneficiaries.