List of assets

You should not list each of your assets in your will in the Specific Gifts section.  There are a number of reasons why you shouldn’t do this – not least because we hope you live a long and happy life so the assets you own when you die may be very different to the assets you own now.  Updating your will each time you buy or sell something or change your bank account would be an unnecessary stress.

Having an up-to-date list of your assets and how to access them can be useful for your Executors.  They will need to make a declaration that they know what you own when they apply for Probate.

You can make a list of what you own in a Letter of Wishes that sets out e.g. what shares, insurance, bank accounts, property and anything else of value. You can update the Letter of Wishes as your situation changes without having to update your will.

Sometimes it is a good idea to provide evidence that you know what you own when you make the will.