In order to prepare your Mintos account for such an event as passing away, please consider the following suggestions:
- Consider drafting a will or leaving a signed document with your attorney, notary, or loved ones, specifying your Mintos ID number.
- Decide who will be the beneficiary/beneficiaries from the funds remaining on your Mintos account, and clearly state their full names and date of birth in the document.
- Leave a person in charge of managing your estate and funds. State the shares in percentage that each heir could receive from the total that will be left on your account.
- Please ensure the will has an English or Latvian language version as well.
If no will is left, inheritance management typically follows the legal framework of intestate succession, where assets are distributed according to state or country laws, often prioritizing immediate family members such as spouses, children, and parents. Once we receive an email (to support@mintos.com) or a letter (to our legal address) stating that an investor has passed away, we freeze the investor's account and advise accordingly, based on the account status at the time. We then communicate with the representative of the heir/s or themselves directly, depending on the will that is left behind and the situation of the account. We also advise accordingly about the required documents to be submitted to Mintos, the means of doing this, and the procedures that will follow.
Usually, the following documents will need to be provided by the heirs:
- Power of Attorney - this may be required, for example, if the solicitor is claiming/managing the inheritance in the name of an heir.
- Mintos Form – completed and signed by the heir(s) (one form for each heir), provided by request.
- Investor’s death certificate – issued by a competent state authority.
- Certificate of the inheritance (or equivalent document) clearly indicating the heirs and their share of the inheritance (if there is a list, then the Mintos funds must be on the list, if not, then the heirs must ask the notary or state official of the specific country to include them or with reference to receive full inheritance) – issued by a notary or competent state authority.
- Copy of each heir's passport/ID card.
- If the heir has a guardian or a custodian, the heir must provide documents supporting that information to confirm that the funds can be transferred to the custodian’s account, as well as the supporting documentation of the guardianship or custody.
- Bank account statement, showing full name, SWIFT, and IBAN to which the funds should be transferred.
Depending on the Mintos account balance, we may request additional certifications (by a certified notary and/or apostille issued by a competent state authority) as well as certified translations (either into English or Latvian).
The timeline of the payout of Mintos account balance to the heir/s depends on the account status at the time, the will and its specifications, how the person had intended for the funds to be divided and to whom, as well as if there is a will in the first place.
At this moment, the transfer of outstanding investments (e.g., Notes) to another Mintos account (i.e., an account of an heir) is not supported.