What happens in the event of death?
In the event of an investor's death, Spreds must be notified immediately by the heirs and/or beneficiaries of the succession. Spreds will then temporarily freeze the deceased's account. As soon as Spreds receives a document proving the identity of the legal heirs and/or beneficiaries (such as a certificate of inheritance issued by the collector of the inheritance office authorized to file the deceased's certificate of inheritance, or a certificate or deed of inheritance issued by a notary), Spreds will convert the deceased member's account into an undivided account in the name of all heirs and/or beneficiaries.
Spreds will inform its contact person of what is in the deceased member's portfolio. A notary deed or a document signed by all heirs and/or beneficiaries can then be communicated to Spreds indicating to whom the portfolio assets should be transferred. Please note that particpative notes can only be distributed in full. For example, 5 participatory notes can go to 5 different people (each receiving 1 participatory note), but 1 participatory note cannot be divided between 2 or more people (unless they want to keep it in common possession). Each of the participatory note recipients must create a Spreds profile (which provides us with standard information such as address and bank details in case payments (interest, return on investment, etc.) are made regarding a particular investment).
Spreds is not obliged to verify the validity of the documents received. All communications regarding an undivided account will be sent to the e-mail addresses provided by the heirs and/or beneficiaries.