Our online questionnaire asks for a list of your assets to include in your will. This section is optional, so you don’t need to fill it out if you don’t want to.
We’ve included this section because it helps your executors know which companies, such as banks and pension providers, to contact after you die. Listing your assets also helps to make sure that you’ve thought about all the assets of your estate when you make your will.
Generally, the assets which should be included in your will are:
- any bank accounts, shares, property or land which you own in your name only (we’ll never ask for specific details like account numbers)
- your share of any property which you own jointly with someone else as ‘tenants in common’
Not every asset in your estate can be included in your will. For example, property you own as ’joint tenants’ with someone else will pass automatically to the surviving co-owner.
Joint assets
You should also check the policies of any of the following accounts you may hold, to confirm what happens to the assets after you die:
- joint bank accounts - joint accounts automatically pass to a surviving co-owner, but what happens to the funds in the account will depend upon whether they truly belong to both co-owners.
- pension benefits and life insurance policies - most of these pass outside the will, because when you set them up they usually include the option for you to nominate someone to receive a benefit in the event of your death. If you’re not sure whether you’ve completed a nomination, contact your pension or life insurance provider.