close menu

Why you need a personal assets log

by Sherron Alexander-Bedingfield | Aug 26, 2015
  • The world we live in is virtually paperless, physical bank statements and bank books have become a thing of the past. Records of what we have, what we owe and who owes us are held in the cloud and can easily be lost after our death.
    personal assets log

    Allow your legacy to live on

    To access information in the cloud, you need user names and passwords, but these are not always kept in the most obvious places. When you pass away, your loved ones may not know how to access this information. Heirs may be left in the dark about what assets you had and where your important papers are kept. 

    Keep executors apprised

    The role of an executor is to value your whole estate and present the most recent original will to probate after paying any debts, taxes and funeral expenses. If the original will cannot be found or the estate cannot be valued, then there may be delays in the administration of the estate. Consequently, beneficiaries will have to wait even longer to receive their inheritance.

    Where this information is stored electronically, executors should obtain a grant of probate before accessing online accounts. Using the deceased’s passwords to access their online assets could be an offence under the Computer Misuse Act 1990, unless this is authorised for each account.   

    Creating a lasting power of attorney

    An attorney, acting under the authority of a lasting power of attorney for property and financial affairs, cannot effectively manage the finances of the donor if it is not known what assets the donor has or where they are located. 

    Our wills team can assist you in not only preparing a will and lasting powers of attorney, but also discuss your document storage options. 


    It’s important to know that when the time comes, your executor will know where to look for these important documents. Email us and we’ll provide you with a free personal assets log to ensure that your affairs are collated in the most efficient way possible.

    The full version of this article can be found on Sherron's Pulse.

    We are a professional services company that specialises in cross-border financial and immigration advice and solutions.

    Our teams in the UK, South Africa and Australia can ensure that when you decide to move overseas, invest offshore or expand your business internationally, you’ll do so with the backing of experienced local experts.

    • Man-on-a-rocket
      Are you a UK contractor? Maximise tax-efficiency by using your pension
      Sep 25, 2018  |  by Bill Monty
    • terraced-houses-in-london
      Are you a UK contractor? Here’s how to get your mortgage approved
      Sep 12, 2018  |  by Marlon Borez
    • property-feud
      The hidden dangers of not having a will in the UK
      Sep 07, 2018  |  by Sherron Alexander-Bedingfield
    • carrot-incentive-running-track
      UK pensions: Between a QROP and a hard place? Or is it a damp SIPP?
      Jun 21, 2018  |  by Niel Pretorius
    • piggy-bank-dollar
      What to do with your living annuity when you retire abroad
      Jun 11, 2018  |  by Niel Pretorius
    • house-london
      In the UK, mortgage inaction is pickpocketing thousands of homeowners
      Jun 07, 2018  |  by Bill Monty
    • Hand-currency-blue
      Saying goodbye to South Africa? Financial emigration can give you access to your RA before you turn 55
      Apr 13, 2018  |  by Niel Pretorius
    • Dubai_skyline
      Lessons learned on a trip to Dubai: South Africans take note
      Nov 10, 2017  |  by Mike Abbott
    • Piggy-banks-thinking
      Financial emigration: Transfer your retirement annuities out of South Africa
      Oct 20, 2017  |  by Niel Pretorius
    • row-of-houses-UK
      Bank of England overhauls mortgage affordability rates: Here’s what you need to know
      Oct 09, 2017  |  by Ian Henning
     
     

    South Africa

    Cape Town

    Regent Square
    Doncaster Road
    Kenilworth 7708 +27 (0) 21 657 2120

    Durban

    201 The Annex
    Ridgeside Office Park
    Umhlanga +27 (0) 31 536 8843

    United Kingdom

    London

    Castlewood House
    77/91 New Oxford Street
    WC1A 1DG +44 (0) 20 7759 7514

    Croydon

    5-7 Selsdon Road
    South Croydon
    CR2 6PU +44 (0) 20 7759 7581

    Australia

    Melbourne

    9 Yarra Street
    South Yarra
    VIC 3141 +613 (0) 8651 4500

    Sable International is a trading name of 1st Contact Money Limited (company number 07070528), registered in England and Wales. We are authorised and regulated by the Financial Conduct Authority in the UK (FCA no. 517570), the Financial Services Conduct Authority in South Africa (1st Contact Money [PTY] Ltd - FSP no. 41900) and hold an Australian Financial Services License issued by ASIC to deal in foreign exchange (1st Contact Group - AFS License number 335 126).

    Our site will be down for approximately 90 minutes on Saturday 17 November at 09:00 BST. 
    We're carrying out scheduled maintenance to ensure we continue to provide you with the service you've come to expect from us.
    This site uses cookies, read more or close this notice.