Where do you store your will and ‘financial factsheet’ (list of accounts, etc.)?

SouthLondonUser

My wife and I have a toddler. We both have life insurance written in trust, on top of life insurance provided by our employers, so we’d be covered even, say, if we were hit by a bus the day after being fired…

We keep the will at home; we also keep a list of all our accounts (saving accounts, ISA, pension, life insurance policy number., etc.) in an electronic document that we regularly email each other every time we move accounts around, which is typically at least once a year. I understand some call this ‘financial factsheet’.

My question is: where do you store these (will + financial factsheet)?
I understand there are will storage services, and that you can store your will with the probate service for a small fee (although feedback is mixed), but enclosing a financial factsheet to the will, and updating it as often as we need to, doesn’t sound practical.
Do you store your wills with the probate service, then regularly give a copy of your financial factsheet to trusted friends/relatives?

Of course the problem arises not if one of us passes away, but if we both do (eg car accident while travelling together), none of us is around to look after our little child, and, well, we need to be sure that our accounts and assets are easily identified and managed on her behalf. Creepy, but these things happen and it’s best to be prepared!

Keep_pedalling

Our wills are held by the solicitor who drew them up. We keep a copy in a fire proof safe together with other vital paperwork including our list of gifting (a copy of this is lalso held with the original will) and PoA documents.

Our attorneys also have certified copies of our PoA documents.

SamsReturn

My Will is only in a draw upstairs, although i do want to change it.
As regards to keeping all my financial records, that's something i worry about and not sure what i should do. Everything is safely stored behind passwords on my computer. But i've fallen out with my Sisters and have no other family. I don't plan on going, not just yet, but as you say, any of us could be hit by a bus tomorrow.

p00hsticks

we have a lockable metal box file that holds items such as birth certificates, wills etc and a printed list of bank account details etc.

We also intend giving the other named executor a sealed copy of the wills just so it is to hand if anything happened to both of us together, and let him know of the existence of that box.

chesky

My will is with the solicitor, copy at home. I keep my files in clear and logical order, a complete two-drawer filing cabinet.
However it's my little black book which lists details of all my bank accounts, pensions, shares, IFA contact. Asset list is updated every year and bank accounts have just a line through them when closed, so the previous details can still be seen.
It's a work of art!

badmemory

My will is also with a solicitor with a copy at home. I have a box file which has a note on it saying something along the lines of open this if I can't do the money stuff I usually do. In it are the deeds to the house (yes I know they are now irrelevant), the purchase details of the chief rent & also both powers of attorney. It also contains a spreadsheet with details of where all the money is, which I update every couple of months.

My big problem is that I would like to take my son on a guided tour of this box. He is the only person any of this would affect, but seems to believe I am immortal or more likely just doesn't want to admit I'm not.

Yorkshireman99

The POAs bneed to be in safe storage not at home.

Keep_pedalling

Yorkshireman99 wrote: »

The POAs bneed to be in safe storage not at home.

We and both our children hold certified copies the original is with our will.