If you died, would your finances be clear and documented?

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I’m married and we have some joint accounts etc which obviously DH knows about & can access etc.

But we also have various separate pensions, savings, ISAs, investments in our own names, probably about 15- 20 different accounts? In the past the paperwork would have been in ring binders but is now increasingly online. We each have own laptops/computers. I have no idea what DH’s password is and he probably doesn’t know or remember mine.
If I died suddenly I don’t think he or the executors of the will would know which companies to contact.
So what do people do these days? Provide a list with the will and update it regularly?
Have a sealed envelope with ‘open in the event of my death.

I'm in the process of gathering everything together, plan to have copies made of account details, life insurance policies etc and stick it in a separate file and call it the death file...

No. Paper everywhere. Even I don’t know what’s what.

It’s not perfect, but we’ve done okay. Husband knows my passwords; and I know his, so we’d be able to figure it out.

I did used to have a spreadsheet but we run a business now and things change often, so it’s difficult to keep it up to date!

I have a file called The Death File (DP thinks its a bit morbid but I think I'm a practical planning genius 😁) which has up to date details on accounts (not that we have much money!!) so in the event of us both kicking the bucket we have the information to hand.

There is the "tell us once" Death Notification service now, I'm not too clear how it works but you fill it in once and it contacts all financial institutions I believe? That might make it easier in the situation where you don't know what is where.

yes.
we have mostly joint things but those that aren't we have permission letters and passwords in an 'oh fuck' envelope in the safe.

There is the "tell us once" Death Notification service now, I'm not too clear how it works but you fill it in once and it contacts all financial institutions I believe?

No - it notifies all government organisations - council, passport, dvla etc.

Very good idea to have a list of all your finances, account detail, life assurance policies etc with your will. And make sure you have made a Will. Doesn't take long but makes things so much simpler for the surviving relatives.

I need to get this in order, how do people organise it all? I can't even remember my own bloody passwords

It’s funny that you mentioned this Op because myself and dh have discussed this recently.
We have ISA’s , life insurance policies , pensions, investments etc
We have decided to put all the info on a computer file and save it on keys. We have also called this Death File.
The info will be left with our solicitor

This topic bothers/interests me alot, and one I often pester OH about it.

I was in a serious car crash a few years ago, multiply injuries and was touch and go whether I'd make it. (Obviously I survived, as I'm here )But it shows how quick it can be 'game over'

We are so not prepared if anything happens, and I can imagine how furious I will be if ow passes before me, because nothing is documented about how I can access stuff.

To make it worse, we are not married, so I'm not even considered his next of kin.

@Candleabra

*There is the "tell us once" Death Notification service now, I'm not too clear how it works but you fill it in once and it contacts all financial institutions I believe?*

No - it notifies all government organisations - council, passport, dvla etc.

Very good idea to have a list of all your finances, account detail, life assurance policies etc with your will. And make sure you have made a Will. Doesn't take long but makes things so much simpler for the surviving relatives.

The Death Notification Service is the one that informs banks and building societies, the tell us once service must be the one that informs council etc?

I think the key thing is that you document what you’ve got, not that you necessarily share all the login details etc.
I was executor for my dad’s estate and thankfully he had listed everything very clearly. I just then had to send copies of the death certificate etc and they issued statements for probate etc.
The risk of documenting passwords is that someone could unscrupulously move money out of the estate perhaps?

Yes. We only have a joint account so that's simple!

I have an old fashioned phone book that anyone could find everything in.

I'm loving The Death File!
We have a box under the bed with important stuff like that in it. I shall rename it.

I should add this to my will shouldn't I. I'm a lone parent so no one knows.

Dd knows my passwords and my best mate has the 'if I die' info, so between the two of them, they would be fine. My best friend locally is under strict instructions that the minute she hears I am dead or long term incapacitated, she is to nip round and empty one particular drawer I don't want dd going through

I had such a terrible experience when a family member died suddenly. Their small flat was absolutely full of basically every piece of paper they'd ever received. In no kind of order, every cupboard, under bed etc just stuffed with paperwork - financial and personal.
I had to check every piece individually and I'm glad I did because one of the last things I looked at was a document relating to a small pension that we hadn't known about. However, it was so awful, especially because of the personal bits mixed in which would suddenly assault me again with grief
I was always fairly organised with finances but after this I did set up a proper death file which I check and update every three months. I would never want anyone I love to go through that.

The death notification service doesn't actually work very well. I filled it in when DH Died with all the credit card / bank details (5 different accounts) and not one actioned it, I ended up phoning them all individually about 3 weeks later.

The tell us once service that tells all government organisations is brilliant on the other hand.

A death file would be a good idea. I'm in charge of all our paperwork but even when DH died I was scrambling round for stuff.

Yes, I have a spreadsheet called "When we die" which my dc (both young adults) know about as well as our financial adviser. It lists all our pensions, life insurance policy details etc. I made it after my db died unexpectedly at the age of 39 and my dsil didn't have all these sort of details to hand. It can make an already stressful time even more stressful than necessary if you don't plan for it.

Yes, I had similar problems with the death notification service. I think it relies on you registering the details exactly as they are on an account, so if you enter Mr A N Other and the account is Mr A Other it doesn’t match it for example.

@MrsBartlet

Yes, I have a spreadsheet called "When we die" which my dc (both young adults) know about as well as our financial adviser. It lists all our pensions, life insurance policy details etc. I made it after my db died unexpectedly at the age of 39 and my dsil didn't have all these sort of details to hand. It can make an already stressful time even more stressful than necessary if you don't plan for it.

Is it printed off somewhere, or locked behind a password protected computer?

It is on a password protected computer and they all know the password and our financial adviser has a copy. But that is a good idea to print it off as well!

We have a spreadsheet (complex password protected) listing everything including accounts and passwords

No I need to sort this. I have organised lasting power of attorney for myself though.

My dad died about 6 months ago, and this has come up be thankfully I didn't have a problem getting into my dads stuff. We're all aware of how unhelpful companies like Apple can be if you want to get in to a dead persons device or account so we (immediate family) knew each other's password/passcode or at least vaguely what it is - numbers might change or capitals move but know enough to guess).

But my dad knew my passwords and he's gone so DP and I had to talk about it work out how we could access stuff if needed. I don't know mums passcode though so would be harder to deal with her death, needy sort that.