Assets including in a will

lake888

Just a basic question...  When I do my will, do I need to list all my savings/investment accounts with the banks' names and account numbers etc?  I am thinking accounts can be closed or moved frequently, do I need to constantly updating the will because of this?

cymruchris

No you don't have to list all accounts and numbers - just what you want to happen to your 'estate' - as in everything you own whether cash or stuff. What would be useful is for any primary beneficiary to know where all your accounts are though, or keep a file at home with everything in it, to make other people's life easier when you've gone  

Robin9

No - but a printed list would help your executor no end. 

Marcon

Robin9 said:

No - but a printed list would help your executor no end. 

Indeed it would - but you don't include it in the will itself. 'Helpful info for executors' can be stored anywhere/anyhow you like, but make sure they know it exists and where to find it.

Savvy_Sue

lake888 said:

Just a basic question...  When I do my will, do I need to list all my savings/investment accounts with the banks' names and account numbers etc?  I am thinking accounts can be closed or moved frequently, do I need to constantly updating the will because of this?

It can actually be quite dangerous to make the identification too clear: same with your house. If you put in your will that you leave your house at 21 Acacia Avenue to Fred, and your flat at 99 High Street to Freda, then if you've disposed of either of those properties before you die, someone misses out. 

At the risk of stating the obvious, if you are using a solicitor to write the will, they will cover this kind of thing. If you are NOT using a solicitor, do reconsider - there are many potential pitfalls. 

My parents' solicitor talked them out of leaving specific items in the will: far better to either leave a 'letter of wishes' or give things away before death. If it's in the will, and it can't be found, it can create a lot of bad feeling unless / even if it is KNOWN what happened to it - oh yes, Dad left the Old Master to Fred when he wrote the will, but then he gave it to his first grandson because he was so happy to have one. 

Keep_pedalling

Please do not try and DIY your will, do it through a local solicitor who can advise you on what should be included and cover all the what if situations that may occur after you have made your will.