Your Interactive Brokers account is a masterpiece of global investing efficiency, until you’re not around to log in. That’s when Swiss bureaucracy transforms your carefully curated portfolio into a digital fortress that even your legally married spouse can’t breach. The harsh reality? That “in case of emergency” folder with your passwords and a standard power of attorney is about as useful as a chocolate teapot.
When “Till Death Do Us Part” Meets Account Freeze
The moment Swiss authorities notify IBKR of your death, your individual account enters a state of suspended animation. No trades, no withdrawals, no access for your spouse, not even to cover funeral costs. This isn’t IBKR being cruel, it’s Swiss inheritance law doing exactly what it’s designed to do: protect the estate from unauthorized access during the Nachlassabwicklung (estate settlement) process).
Many international residents assume marriage grants automatic access. Swiss law disagrees. As one source bluntly states: “Selbst der Ehepartner hat nicht automatisch Zugriff auf Depot des anderen” (Even the spouse doesn’t automatically have access to the other’s brokerage account). Your marriage certificate might open emotional doors, but financial ones remain firmly locked.
The timeline is sobering. While you’re alive, a standard Vollmacht (power of attorney) works fine. The moment you stop breathing, that document becomes legally void. Your spouse then faces a minimum of six months, often stretching to 18 months, before the Erbschaftsverfahren (inheritance procedure) concludes and assets transfer. If you hold US-based ETFs or stocks, add more paperwork with IRS requirements.
The Vorsorgeauftrag: Your Secret Weapon
Swiss law offers a specialized tool that regular powers of attorney lack: the Vorsorgeauftrag (advance directive/care order). This isn’t your generic “I authorize my spouse to act on my behalf” document. It’s a comprehensive legal instrument that specifically addresses incapacity and post-death scenarios.
What makes it powerful? A Vorsorgeauftrag explicitly grants your chosen representative authority over financial, legal, and personal matters when you’re no longer capable. Unlike a standard Vollmacht that dies with you, a properly structured Vorsorgeauftrag can bridge the gap during those critical first months after death.
But here’s the catch that trips up most investors: brokers like IBKR have their own requirements. As financial experts note, “Nur wenige Banken akzeptieren eine selbst erstellte Vorsorgevollmacht für Wertpapierdepots” (Few banks accept a self-created power of attorney for brokerage accounts). Most demand their specific forms, and some require notarization.
The Joint Account Mirage
“Just open a joint account”, the forums suggest. Simple, right? Not with IBKR’s UK entity, which many Swiss residents use. The platform interface typically only offers “individual” or “institution” options during initial signup.
The workaround exists but it’s circuitous: open an individual account first, then create a joint sub-account or add trusted persons afterward. Several investors report success with this method, noting they “made joint account and just transferred everything from old one there. Was pretty much straightforward.”
But joint accounts come with their own Swiss tax implications and require both parties to complete the full onboarding process. Plus, during your lifetime, your spouse has equal access, which might not align with your investment strategy.
Why Swiss Spousal Rights Fail You
Swiss law assumes spouses share everything, yet simultaneously erects barriers. You might think your Ehepartner can sell a shared property or manage finances, but rights are “weniger umfassend als ein Vorsorgeauftrag” (less comprehensive than an advance directive). Want to place your partner in a care facility or sell jointly owned real estate? Your spousal status alone doesn’t cut it.
This legal paradox extends to brokerage accounts. Even with a valid marriage, your spouse needs formal authorization to access your individual IBKR account. The Ehegattenerbrecht (spousal inheritance rights) only determines eventual asset distribution, it doesn’t provide immediate access.
Broker-Specific Landmines
Here’s where generic advice becomes dangerous. Each broker interprets Swiss requirements differently:
- IBKR: Requires their specific beneficiary designations and may not recognize external Vorsorgeaufträge for account access
- Swiss brokers: More familiar with Vorsorgeaufträge but often have proprietary forms
- Neo-brokers: Many lack any death-access provisions, their low-cost models don’t include estate services
The research is clear: “Manche Institute haben hier aber ihre eigenen Regeln” (Some institutions have their own rules here). A Vorsorgeauftrag that works perfectly for your cantonal bank might be rejected by IBKR’s compliance team.
Alternative Strategies for the Paranoid
If the Vorsorgeauftrag route seems too bureaucratic, consider these pragmatic alternatives:
1. The Living Gift Strategy
Fund a separate account in your spouse’s name while you’re alive. This isn’t just a transfer, it’s a Schenkung (donation) that creates immediately accessible assets outside your estate. Swiss gift tax rules apply, but the exemption limits are generous for spouses.
2. Life Insurance as Bridge
Rather than fighting for immediate portfolio access, secure a Risiko-Lebensversicherung (term life insurance) that pays out within weeks of death. This gives your spouse liquidity without touching the frozen brokerage account.
3. The Multi-Broker Defense
Maintain accounts across different broker types: a joint Swiss bank depot for immediate needs, IBKR for aggressive growth, and a third account with explicit death provisions. Diversification isn’t just for assets, it’s for access too.
Your Action Plan: Don’t Wait for the Funeral
- Contact IBKR Switzerland directly: Ask for their specific “death access” or “survivor” forms. Don’t accept generic customer service answers, escalate to compliance.
- Draft a Vorsorgeauftrag: Use a Swiss notary or attorney familiar with Erbrecht (inheritance law). Specify exact powers: account access, trading authority, withdrawal limits. Generic language gets rejected.
- Set up a joint sub-account: If you choose this route, do it now while you’re healthy. The process can take weeks, and brokers move slower when they smell urgency.
- Document everything: Create a “death folder” with not just passwords, but broker contact names, your Vorsorgeauftrag reference numbers, and a letter of intent explaining your wishes.
- Review annually: Brokers change policies. Your Vorsorgeauftrag from 2023 might be obsolete in 2025.
The Bottom Line: Swiss Precision Meets Mortality
Swiss financial infrastructure runs with SBB-level reliability, until human mortality introduces a system error. Your IBKR account represents global financial freedom in life but becomes a bureaucratic black hole in death unless you proactively engineer around it.
The uncomfortable truth? Most investors spend more time researching ETF expense ratios than planning for spousal access. Yet the cost of that oversight isn’t measured in basis points, it’s measured in months of frozen assets and compounded stress for your grieving partner.
The system isn’t broken, it’s working exactly as designed. Your job is to design around it. Start with the Vorsorgeauftrag, verify IBKR’s specific requirements, and treat spousal access as a critical portfolio risk, because it is.
Financial experts consistently emphasize that broker-specific forms are more reliable than generic powers of attorney.
Don’t let your investment strategy end at death’s door. The Swiss legal system provides tools, but they’re useless sitting in a drawer. Your spouse shouldn’t need a court order and six months of patience to access what you built together. Engineer the solution now, while you’re still around to sign the forms.
