Do I need a list?
A common mistake people make when making a will is to list every asset. Obviously – as we live and grow our assets change. We move house, change bank accounts, make investments and purchases.
Your wealth now may be very different to what it was 5, 10 or 20 years ago.
The “residuary” section of your will accounts for this. Every thing you own (minus any specific gifts) is counted in your residuary.
So that covers your needs from a legal perspective.
From a practical perspective a list of wills can make a big difference to your executors. We therefore recommend keeping an up-to-date list of assets.
There are two ways you can create your list of assets. Firstly – a paper copy kept with the will. Alternatively – you can keep your list through an online service. Physical .doc list Online list of assets
Physical list of assets
A physical list can be kept with your will. You can write your own list or you can print and complete the below form.
Make sure that you do not attach the list to your will in any way. Do not staple, paperclip or stick the list to the will. Simply put it in the same place so that it can be found at the same time as the will. Download a word .doc list
Alternatively you can use an online service to keep track of your assets and liabilities.
An online list means that you can update wherever you are and don’t have to remember to “do it as soon as I get home…” (which sometimes never happens!)
A service such as Auderli will go the extra mile and allow you to enter the details of your executors, any LPA attorneys or other key contacts. This means your digital record can be accessed whenever you need to. Try Auderli for free
You can print a copy of your electronic record and store it with your will too. Make sure you follow the same rules as above – do not attach any physical list (or any other document) to your will. Do not staple, paperclip or stick the list to your will.