Although we share much of our lives these days on social media, it is ironic that sometimes the closest people to us are either deliberately or accidentally excluded from the details of our financial affairs. Recent research suggests that huge numbers of people couldn’t locate their partner’s assets if they suddenly died. Often times people have assets such as old stocks and shares portfolios and bank accounts that are unknown to their beneficiaries.
Research shows married Britons are more forthcoming with their partners about their finances than unmarried couples. However there are still millions who are secretive about their financial information.
Even if you do not wish to directly divulge details of your assets to others, it is worth keeping a private asset log or register. Therefore, that in the event of your death your assets can be located and claimed by those entitled to them. Think about listing Bank Accounts/ Savings and Investments along with Pension details etc and storing this with your Will so the job for your Executors, is a simpler one.
For more information get in touch with us me here.