Annual Fees

Subscriptions and memberships fall into various categories and may be digital, print, social, professional, special interest, etc.  Often they are as diverse as the interest or business of the individual involved. 

For example, someone may have a newspaper or magazine subscription (print or digital), or belong to an alumni or professional group or book club. 

Cell phones, Amazon Prime, and cable are all media subscriptions.

Club memberships are equally as varied. They may range from local country clubs (with minimum monthly charges for food), to a professional union or international travel club.

Another form includes loyalty clubs for hotels, airlines, and food - such as, Marriott, American Airlines, or Sam's Club.

It is wise to have a list of the subscriptions, memberships, and loyalty clubs, as well as, the payment details. 

If automatic payments are in place, key details are:

WHEN - WHICH CREDIT CARD OR BANK ACCOUNT - HOW OFTEN?

Are the fees or dues payable on a monthly, quarterly, or annual basis? 

What is the recurring charge to a credit card or from a bank account?

At what interval will the money be debited from the deceased's account.

Another detail to watch as you close down subscriptions or memberships, is to determine the "renewal" date for any services. Make sure that you close the account before the next renewal date, so that there is no new commitment for a prolonged period of time.

Explore what the options are if the subscription or membership was just renewed - can any of the services be transferred to someone else (family or business colleague?). 

If not, how much of the original cost, if any, will be returned to the estate? 

Is it worth keeping open for another month or two to facilitate the closing of a house for example?

You might decide to keep Amazon Prime open, so that needed but unexpected purchases (cleaning products, staging accessories, etc.) are readily available.  However, a wine club membership may not be transferable or necessary.

While the task of closing down all subscriptions and memberships seems daunting, with a single list of the subscriptions/memberships as well as when and how they are paid, the task will be significantly less time-consuming. 

1.    Close unnecessary subscriptions and memberships as quickly as possible and certainly before the next renewal date

2.   Ensure that any automatic payment instructions are deleted from the linked account 

3.   Check to see if residual value or points can be refunded or transferred to another family or business