{"id":28115,"date":"2025-03-11T17:04:28","date_gmt":"2025-03-11T17:04:28","guid":{"rendered":"https:\/\/smh.group\/?p=28115"},"modified":"2025-03-11T17:04:28","modified_gmt":"2025-03-11T17:04:28","slug":"the-importance-of-accessible-and-organised-financial-records","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/the-importance-of-accessible-and-organised-financial-records\/","title":{"rendered":"The importance of accessible and organised financial records"},"content":{"rendered":"

If something happened to you tomorrow, would your partner know how to manage your finances, and how easily could they access the information they need?<\/strong><\/p>\n

It\u2019s been five years since the pandemic turned the world upside down. The experience provided lessons in many aspects of life, not least its potential fragility. During the lockdowns, many people became suddenly aware that they had no will or, if they did, it was woefully out of date. The realisation came at a time when making an appointment with a solicitor or will-writer was nearly impossible because of the restrictions imposed on movement and meeting.<\/p>\n

Half a decade later, were a new pandemic to arrive, such as a mutant bird flu, are you sure that your will is up to date? If you cannot answer yes, then you know, for your family\u2019s sake, what you need to do. However, whether or not you have made sure your will is up to date, it is best thought of as a starting point rather than the end of the matter.<\/p>\n

To be able to follow your will\u2019s instructions, for all but the smallest estates, the people you have chosen as your executors must first obtain a grant of probate (confirmation in Scotland). In turn, this will require them to calculate the net value of your estate. This is often the point at which executors begin to realise the task they have taken on.<\/p>\n

Accessing records<\/strong><\/p>\n

Imagine that your estate was the one to be valued: how easy would it be for your executors to prepare a list of what you owned and what you owed? Initially, they might ask a surviving spouse or partner \u2013 if one exists \u2013 for details. Unfortunately, that can sometimes produce a response such as, \u201cSorry, I always left money matters to him\/her\u201d.<\/p>\n

What your executors would hope to find is a reasonably up-to-date list of your investments, bank accounts, pensions and other assets, including any borrowing (for example: credit cards, personal loans and mortgages). Ideally, each item on the list would have the relevant account\/customer numbers and contact details.<\/p>\n

If you haven\u2019t already set up such a document \u2013 on paper or an accessible digital form \u2013 your executors are not the only ones facing a struggle. You may be, too, trying to manage your finances, especially as you get older. Taking the time to organise your affairs now, while you can, could be one of your greatest gifts to those you will leave behind.<\/p>\n

To discuss your financial planning,\u00a0contact<\/a>\u00a0our\u00a0Sheffield based Financial Advisers<\/strong><\/a>\u00a0on\u00a00114 266 4432<\/strong>\u00a0or\u00a0info@smh.group<\/strong><\/a><\/p>\n

The Financial Conduct Authority does not regulate wills and will writing. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

If something happened to you tomorrow, would your partner know how to manage your finances, and how easily could they access the information they need? It\u2019s been five years since the pandemic turned the world upside down. The experience provided lessons in many aspects of life, not least its potential fragility. During the lockdowns, many people became suddenly aware that they had no will or, if they did, it was woefully out of date. The realisation came at a time when making an appointment with a solicitor or will-writer was nearly impossible because of the restrictions imposed on movement and meeting. Half a decade later, were a new pandemic to arrive, such as a mutant bird flu, are you sure that your will is up to date? If you cannot answer yes, then you know, for your family\u2019s sake, what you need to do. However, whether or not you have made sure your will is up to date, it is best thought of as a starting point rather than the end of the matter. To be able to follow your will\u2019s instructions, for all but the smallest estates, the people you have chosen as your executors must first obtain a […]<\/p>\n","protected":false},"author":4,"featured_media":28119,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-28115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-services"],"acf":[],"yoast_head":"\nThe importance of accessible and organised financial records - SMH Group<\/title>\n<meta name=\"description\" content=\"If something happened to you tomorrow, would your partner know how to manage your finances, and how could they access information they need?\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The importance of accessible and organised financial records - 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